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IMF in Egypt for loan negotiations

07/01/13 14:09 CET

A senior official from the International Monetary Fund has been meeting the Egyptian government for talks about a loan that is crucial for the country’s economic health.

The on-going political crisis there has sent the Egyptian pound plummeting in value, and that has been depleting foreign currency reserves.

Now they are talking about a 3.7-billion euro loan to contain the crisis.

The IMF’s Middle East and Central Asia director Masood Ahmed is in the country for a series of top level meetings.

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