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No fixed timeline to conclude Egypt loan talks: IMF
Agreement will depend on how quickly progress is made by all sides, spokesman for the global body tells news conference
Reuters, Thursday 5 Apr 2012
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The International Monetary Fund said on Thursday there was no fixed timeline for concluding loan talks with Egypt and insisted it was key that any funding deal have the broad support of all political parties in the country.

"The timeline for concluding an agreement is not fixed and will depend on how quickly progress is made by all sides on these all issues," IMF spokesman Gerry Rice told a news conference.

Egyptian Planning Minister Faiza Abu El-Naga said on Monday that Egypt expected to sign a $3.2 billion financing package with the International Monetary Fund in June, three months later than it had previously hoped.

The IMF said that before it agrees to a loan, the government must first sell the plan to the country's political forces, especially the Muslim Brotherhood's Freedom and Justice Party, which won nearly half the seats in the new parliament.



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