During his meeting with the editors-in-chief of national newspapers on Friday, President Abdel Fattah Al-Sisi talked about the loan that Egypt is seeking from the International Monetary Fund (IMF). The president believes that Egyptians would be prepared to face the challenges in order for Egypt to improve. The president noted that the IMF’s agreement to provide the loan shows that Egypt has the ability to pay it back. Aliaa Mamdouh, a former economist at CI Capital, sees that Egypt cannot postpone the IMF loan for the third time since 2011. Mamdouh sees that if Egypt does not implement economic reforms now, living conditions would become even harder for the people.

Source: Daily News Egypt October 16, 2016 16:06 UTC