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Egypt must repay each tranche of any loan it receives from the International Monetary Fund over five years, including a grace period of three and a quarter years, deputy finance minister Ahmed Kojak told Reuters on Thursday.
“Each tranche we receive must be repaid over five years, including a three and a quarter year grace period,” Kojak said.
Egypt announced on Tuesday it was in the final stages of negotiations with the IMF for $4 billion a year over three years and also expects to issue eurobonds worth $2 billion to $3 billion in September or October.
Source: Reuters
