EGYPT$4.8bn IMF loan talks in progress

Egypt expected to conclude a $4.8 billion (R39.2bn) International Monetary Fund (IMF) loan deal within two months and was in talks for additional budget support worth about $1bn from the World Bank and the African Development Bank, Prime Minister Hisham Kandil said yesterday. Saudi Arabia and Qatar have pledged billions of dollars to help Egypt. Kuwait had already made a “reconnaissance visit”. – Reuters