| | International 
[ 2011-06-25 ] 
Egypt withdraws request for IMF, World Bank loans
CAIRO (AFP) - Egypt has withdrawn its loan request
to the International Monetary Fund and the World
Bank, an adviser to Finance Minister Samir Radwan
told AFP on Saturday.
"We have decided not to have recourse to loans
from the international financial institutions,"
Abdelfattah al-Gebali said.
He said the decision was taken in response to the
"pressure of public opinion," which has been
largely hostile to the loan request, and after the
submission of a new draft budget for 2011-2012
that foresees a reduction in public spending. Source - AFP
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