Egypt has reached an initial agreement with the International Monetary Fund's [2] technical team, currently visiting Cairo, for a $4.8 billion loan, [3] Egyptian Planning and International Cooperation Minister Ashraf El-Arabi announced Tuesday.
The loan proposal will be presented to the IMF's board of directors for final approval in December, El-Arabi was quoted as saying by state news agency MENA.
Details of the agreement will be unveiled Wednesday after they are presented to Egypt's cabinet, El-Arabi added.
[4] © Copyright Al-Ahram Publishing House Links:
[1] http://www.syndigate.info
[2] http://www.google.co.uk/url?sa=t&rct=j&q=egypt+IMF+site%3Aalbawaba.com&source=web&cd=1&cad=rja&ved=0CCUQqQIwAA&url=http%3A%2F%2Fwww.albawaba.com%2Fbusiness%2Fegypt-uk-imf-451823&ei=KXurUKiOF9SM0wW7k4CADA&usg=AFQjCNF2wlFZhOXtww5PZ5vJMTT21gMQFw
[3] http://www.albawaba.com/business/imf-egypt-plan-447620
[4] http://english.ahram.org.eg