EGYPT
 
Egypt Rejects IMF’s Temporary Loan
 
Egypt has rejected an offer from the International Monetary Fund (IMF) for a short-term bridging loan of $750mn, Egypt’s Minister of Finance al-Mursi Hijazi stated on 12 March. The stop gap financing was offered under the IMF’s Rapid Financing Instrument (RFI), a mechanism which provides limited funds while a country negotiates longer term loans.
 
Mr Hijazi adds that the government has moved...