Managing Director of the International Monetary Fund (IMF) Christine Lagarde will visit Egypt on 22 August, according to a statement by the IMF issued on Wednesday. Egyptian authorities invited Lagarde to Egypt, as the country seeks financial support from the international financial organisation. Ongoing negotiations for a $3.2 billion facility from the IMF to Egypt are expected to be addressed during the visit. “[Lagarde's] visit is a reflection of the IMF's continuous commitment to support Egypt and its people during this historic period of transition,” the IMF's statement read. This is Lagarde's second visit to the country since she was chosen to be the IMF's Managing Director for a five year term starting July 2011. More details to follow.
