Egypt is near to securing a $2.2 billion loan from the World Bank, the finance minister announced, as the country's military rulers said Monday the unrest of the past few months has battered economic growth rates and is costing the nation $40 million per day in lost tourism revenues.
Finance Minister Samir Radwan also said an International Monetary Fund team was expected in Cairo within days to look at ways of supporting the government's efforts to boost the economy. His comments came in a statement released by the ministry and did not make clear when the deal may be completed.
Separately, Brig. Mahmoud Nasr, the deputy defense minister for financial affairs, said the unrest led to an 80 percent decline in revenues from tourism, a vital sector.
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