CAIRO: Egypt did not rule out the possibility of borrowing from the International Monetary Fund (IMF), said Hazem el-Beblawy, Egypt's recently appointed Minister of Finance. This announcement comes on the heels of Egypt's refusal of a $3 billion dollar IMF loan during the tenure of Samir Radwan, the former Finance Minister. El-Beblawy, however, who has not yet sworn in as Finance Minister, added that Egypt plans to endure the current financial woes while providing fertile conditions to stimulate foreign investment in Egypt. His message to potential investors assures that the Egyptian financial problems are merely temporary, and added that it will be more beneficial to commit to projects in Egypt sooner rather than later.
