Central Banking

Egypt asks IMF for loan

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The International Monetary Fund (IMF) said on Thursday that Egypt had asked for a loan.

"The Egyptian authorities had indicated that they had expected to have a financing need of some $10 billion-12 billion from now through June 2012 from the international community," said the statement.

"They've approached bilateral and multilateral partners, including the IMF, to provide the financial support for what is their home-grown programme," it added.

An IMF team is now expected to visit Cairo shortly

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