Regulatory Alerts2012-05-13
Controls and rules for bank financing for the acquisition of companies and controls for evaluating goodwill
The original Arabic text of the Egyptian House of Representatives' response to the International Monetary Fund's Article IV consultation is as follows: **The Fourth Item** It is not permitted for the International Monetary Fund (IMF) to impose a condition on Egypt's external public debt amounting to more than 5% of its total public debt, nor may it reduce the external public debt by more than 20%. **The Fifth Item** The Egyptian state is committed to implementing an economic program under the supervision of the IMF to complete a specific $10.4 billion tranche by June 22, 2009, subject to the evaluation of the monthly installments. **The Sixth Item** Egypt agrees to adhere to the conditions and obligations stipulated in Article IV of the IMF Statute, provided they do not conflict with Egypt's external public debt commitments under which it has implemented specific economic programs within the framework of this Article by its due date, subject to the applicable rules. Secretary-General of the **Parliament** Dr. Mohamed Al-Din Moneer