Egypt delays IMF loan decision, Gulf aid helps reform: deputy PM


  • World
  • Tuesday, 03 Dec 2013

LONDON (Reuters) - Egypt has postponed any decision on taking a $4.8 billion (2.9 billion pounds) loan from the IMF as financial aid from Gulf states has given Cairo some breathing space as it starts to conduct economic reforms, Deputy Prime Minister Ziad Bahaa El-Din said on Tuesday.

Bahaa El-Din said Egypt has so far received around $8 billion of a $12 billion aid package from Saudi Arabia, Kuwait and the United Arab Emirates promised in July, days after the army toppled Islamist President Mohamed Mursi.

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