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MAR 02, 2013 - Yahoo! News

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Egypt needs to fix economy, strike IMF deal-Kerry

CAIRO (Reuters) - Egypt's need to get the economy back on its feet is paramount and urgent, and the government should strike a loan deal with the IMF, U.S. Secretary of State John Kerry said on Saturday. Egypt's foreign currency reserves have dived to little more than a third of levels before the 2011 revolution and its pound has lost more than eight percent against the dollar since the end of last year. "It is paramount, essential, urgent that the Egyptian economy get stronger, that it gets back on its feet," Kerry told Egyptian and U.S. business executives in Cairo. ...

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