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BREAKING: Egypt signs initial loan agreement with IMF
Agreement is reached with IMF technical team on terms of $4.8bn loan, Egypt's International Cooperation Minister Ashraf El-Arabi announces Tuesday
Ahram Online Published in Ahram Online on 20 - 11 - 2012

Egypt has reached an initial agreement with the International Monetary Fund's technical team, currently visiting Cairo, for a $4.8 billion loan, 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.

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