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IMF warns Morsi declaration could stall loan to Egypt
- Egypt: Tuesday, November 27 - 2012 at 05:37
The International Monetary Fund (IMF) has said the instability following Egyptian president Mohammed Morsi's 'Constitutional Declaration' could delay a $4.8bn loan from the fund, Ahram has reported. The declaration said all presidential declarations, laws and decrees could not be appealed or blocked. The development could bring into question the stability of state institutions and raise doubts that could delay the loan, a senior IMF official, who requested anonymity, told the daily. Last week, the IMF said it had reached a staff-level agreement with Egypt regarding the loan.
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