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IMF could change size of $4.8 bln Egypt loan -official
April 2, 2013 / 6:31 AM / 4 years ago

IMF could change size of $4.8 bln Egypt loan -official

DUBAI, April 2 (Reuters) - The International Monetary Fund could conceivably change the size of the $4.8 billion loan which it is negotiating with Egypt, depending on the country’s needs, a senior IMF official said on Tuesday.

“The size may vary, it’s a question of needs and what’s required,” Masood Ahmed, director of the IMF’s Middle East and Central Asia department, told reporters in response to a question.

He was speaking at a meeting of Arab finance ministers and central bank governors in Dubai.

An IMF delegation is to arrive in Egypt on Wednesday for talks with the government on the $4.8 billion loan. Ahmed said the talks would include reviewing Egypt’s financing needs; an initial agreement on the loan was reached last November but then suspended because of political unrest in Egypt.

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