Minister of Planning and International Cooperation Ashraf el-Arabi announced Tuesday that the government has asked the International Monetary Fund to postpone extending the 4.8 billion loan to Egypt for one month.
"It is better to delay the IMF's loan until we reach stability in the political situation" El-Arabi said, stressing that the IMF is keen to provide Egyptian government with the loan.
The Egyptian Minister told MENA that political turmoil pushes the government to postpone the loan that was scheduled to be provided on December 19.
He also described media reports on soaring prices as making a mountain out of a molehill.
He added that the government's economic program will be put to public discussion next week.