Egypt, IMF not at loggerheads

Egyptian Prime Minister Hisham Qandil underlined Egypt and the International Monetary Fund (IMF) are not at loggerheads concerning a 4.8 billion dollar loan. In statements to MENA on Sunday, he said "Egypt and the IMF agree on the measures that should be taken concerning the loan, but they are still discussing the timing of these measures." Concerning Ethiopia's Millennium Dam, Qandil said he met with Ethiopian officials, topped by Prime Minister Hailemariam Desalegn, on the sidelines of the 5th Tokyo International Conference on African Development (TICAD V) and they stressed that the dam will not have any negative impact. Qandil added that the Ethiopian officials stressed however that Egypt will get a boon from the dam. The situation on the ground will determine the measures which the government will adopt, he said. He added that the tripartite committee which comprises experts from Egypt, Sudan and Ethiopia along with international expertise will refer their reports on the impact of establishing Ethiopia's dam to the governments of the three states, Regarding his visit to Japan and participation in TICAD V, he said it is a chance to spell out the conditions in Egypt and ongoing efforts to restore security and stability to the country. Qandil noted that he met with a number of Japanese businessmen to post them on investment opportunities in Egypt and means of boosting Japanese tourism in Egypt. He said the Egyptian government is adamant to encourage national, Arab and foreign investments. Egypt is a promising market for investment. As for the conditions in Syria, Qandil said Egypt rejected interference in Syria's affairs, noting that Egypt is holding contacts with the US and Russia to settle the Syria crisis and stem bloodshed. Qandil said Egypt seeks only serving interests of the Syrian people.