Egypt considers IMF loan deal crucial to economic recovery

Egypt: Egypt’s planning minister Ashraf El-Arabi has said the interim government considers a loan agreement with the International Monetary Fund an “essential” part of efforts to revive economic growth, Bloomberg has reported. The minister’s remarks come a day after Egypt’s government said it was told by visiting Deputy Secretary of State William Burns that the US, the IMF’s largest shareholder, supports the resumption of talks. The timing of a resumption of talks on a $4.8bn loan is still under discussion, El-Arabi said. The government is assessing Egypt’s financing needs based on the latest economic data, he said. []

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