Egypt says has mustered 60 pct of $6 billion required to secure IMF deal

Egypt says has mustered 60 pct of $6 billion required to secure IMF deal
 

Egypt has mustered 60 percent of the $6 billion required to secure a $12 billion International Monetary Fund (IMF) loan, Prime Minister Sherif Ismail said on Tuesday
The IMF in August agreed in principle to grant Egypt the three-year loan facility to back a government reform programme aimed at plugging a budget gap and rebalancing currency markets. Egypt needs to secure $6 billion in bilateral support before the deal goes to the IMF board for approval.
"There is a problem with the growth rates, the public debt and the budget deficit...and the resources of the state budget is 930... read more

 
18 October 2016 in World News, Views: 39
Source: Reuters
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