CAIRO – A delegation from the International Monetary Fund has arrived in Egypt, responding to a request for a multibillion dollar bailout for the country's flagging economy.
Cairo airport officials say IMF mission chief for Egypt, Christopher Jarvis, led the team that arrived Saturday and which would meet government officials later in the day. The officials spoke on condition of anonymity as they were not allowed to brief reporters.
IMF did not give any details about the request or possible funding amounts, although Egypt has said it was seeking a loan of $12 billion from the IMF over three years, as well as $7 billion from other sources.
Years of unrest since the 2011 overthrow of longtime autocrat Hosni Mubarak have taken a heavy toll on both foreign investment and tourism.
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