In Egypt Finance minister says external debt to reach $53.4 billion with IMF loan

Last week Egypt said it was seeking $4 billion a year over three years from the IMF to help plug a funding gap. The government hopes to finalise the deal in August.

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Egypt's Sisi warns tough measures to fix economy are looming play

Egypt's Sisi warns tough measures to fix economy are looming

(Reuters)
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Egypt's finance minister said in a television interview on Sunday that Egypt's external debt would reach $53.4 billion if his country receives an International Monetary Fund (IMF) loan.

Last week Egypt said it was seeking $4 billion a year over three years from the IMF to help plug a funding gap. The government hopes to finalise the deal in August.

A two-week IMF mission arrived in Cairo over the weekend to negotiate an IMF loan package.

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