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Article: IMF/Paris Club deal gets the go-ahead. (Egypt; International Monetary Fund, Club of Paris) (includes other news briefs)
- Article from:
- MEED Middle East Economic Digest
- Article date:
- October 12, 1990
CopyrightCOPYRIGHT 1990 MEED Middle East Economic Digest. All Rights Reserved. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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IMF/Paris Club deal gets the go-ahead
The IMF has suggested to the Club of Paris that work can start on drawing up an interim agreement on rescheduling Egypt's debt service payments. The amount involved - including arrears dating back to June 1988, when the previous Paris Club deal expired - is reported to be about $18,000 million.
IMF officials say managing director Michel Camdessus was greatly encouraged by an exchange of letters with the Egyptian team which visited Washington in late September. This exchange could provide the basis for the Paris Club discussions.
An IMF negotiating team will visit Cairo in mid-October for talks about the ...