Egypt’s talks with the IMF stall

Egypt is stalling on the terms of a $4.8bn (£3.1bn) International Monetary Fund loan to help it fight a deepening economic crisis, and no deal is likely while an IMF team is in Cairo, diplomats said yesterday. The IMF mission is set to leave yesterday after nearly two weeks of talks, and negotiations may continue in this week’s IMF ministerial meetings. An IMF programme could help stabilise Egypt’s economy in the rocky transition to democracy after its 2011 revolution.