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Egypt expects to sign a $3.2 billion loan with the International Monetary Fund around the beginning of June, the state-run Al-Ahram reported today, citing Finance Minister Momtaz el-Saieed.
El-Saieed said the first part of the loan could be released around July 1, the start of fiscal year 2012-2013, according to the newspaper. He said the central bank’s governor is currently in Washington discussing technical details related to the signing and transfer of the funds with IMF officials.
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