Economics
Egypt Nears Deal on New IMF Loan in Face of Economic Crisis
Egypt's central bank in Cairo.
Photographer: Shawn Baldwin/Bloomberg
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Egypt is nearing an agreement with the International Monetary Fund on a new loan, its prime minister said, signaling more help for the economy may be imminent after a leadership shakeup at the central bank.
“The government is in the final-agreements stage regarding new financing from the IMF,” premier Mostafa Madbouly said Monday in a statement from his cabinet. There were no further details, including on how much Egypt might borrow.