The Mercury

IMF agrees to $3bn Egypt finance deal

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The Internatio­nal Monetary Fund (IMF) agreed to a $3 billion (R20bn) financing deal with Egypt yesterday and praised the policies of an interim government struggling to stabilise the economy after this year’s popular uprising. Egypt has been seeking funds to plug an estimated $10bn to $12bn balance of payments gap in the wake of the upheaval that toppled the government in February. – Reuters

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