Qandil denies asking Algeria for $2 billion loan

Prime Minister Hesham Qandil and Algerian Prime Minister Abdel Malek Sellal Egyptian Prime Minister Hesham Qandil on Tuesday denied reports that his government requested a $2 billion loan from Algeria. Qandil said Egyptian-Algerian economic cooperation will have a positive impact in the short-term for both countries.
He said his visit to Algeria was “successful” and the agreements reached with Algerian Prime Minister Abdel Malek Sellal and other officials on Sunday will be implemented in due course.
Egypt is already in negotiations with the International Monetary Fund for a $4.8 billion loan to aid it its budget deficit.
Sellal said Algeria decided to increase petroleum gas deliveries to Egypt next year by 50 per cent.
Relations between Algeria and Egypt are "serene," said Sellal, but that "promising perspectives are opened to both countries and peoples."
Sellal described the visit of Egyptian PM Hesham Qandil as "fruitful."
 The next Algerian-Egyptian Joint High Commission meeting will be held in April or May in Cairo.