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Egypt’s finance minister said in a television interview Sunday that Egypt’s external debt would reach $53.4 billion if his country receives an International Monetary Fund (IMF) loan.
Last week Egypt said it was seeking $4 billion a year over three years from the IMF to help plug a funding gap. The government hopes to finalise the deal in August.
A two-week IMF mission arrived in Cairo over the weekend to negotiate an IMF loan package.
Source: Reuters
