Egypt’s government to discuss IMF assistance on Saturday

Egypt’s new Prime Minister Hisham Qandil will hold a meeting with members of his government on Saturday to discuss the next steps on seeking an International Monetary Fund loan, Qandil said.

An IMF deal would help Egypt stave off a budget and balance of payments crisis and add credibility to economic reforms needed to restore the confidence of investors who fled the country after a popular uprising last year.

“We will have a meeting on Saturday headed by me to look into our next steps,” Qandil told reporters in Cairo on Thursday.