IMF supports Egypt's foreign investment

Dr. Kamal Ganzouri, Egypt's prime minister, yesterday received an IMF delegation which expressed great admiration of Egypt's economic performance.

Robert Hadi, the delegation chairman, said Egypt has achieved remarkable successes in its economic reform program and affirmed that the International Monetary Fund. (IMF) will assist in Egypt's endeavors to attract foreign investment.

Dr. Atef Ebied, minister of public enterprise, who attended the meeting, told reporters that Egypt's economic growth rate has reached 5.2 percent and the inflation rate has dropped to 6.2 percent, at least 3 percent lower than expected.

He also added that Egypt's 28 billion foreign debts are scheduled to be paid within the next 20 years and that interests rate of these debts range between 0.75 and 2 percent, Al Khartoum daily said today.