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Wednesday, 27 July 2016

Egypt close to $7bn a year support agreement with IMF - FT.com

Egypt close to $7bn a year support agreement with IMF - FT.com:

"Egypt said on Tuesday that it was close to finalising an agreement with the International Monetary Fund for a three-year support programme with the aim of securing funding worth $7bn a year.
The announcement comes as the Egyptian pound reached a record low against the dollar on the black market this week. It has been selling for a 45 per cent premium over the official rate."



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