Financial and Banking News
BUDGETS AND REVENUES
Interest Rates the Key difference in Egypt/IMF Talks
Remarks attributed to President Mubarak's political advisor last weekidentified the issue of interest as being the critical stumbling block innegotiations between Egypt and the International Monetary Fund (IMF). Accordingto Dr. Usama al-Baz, the IMF wants Egypt to increase interest rates from thecurrent 13-14% level to 25%. In an interview with the Cairo daily ...