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Egypt in talks to obtain $2 bln in financing from China

Egypt reached a staff level agreement for a $12 billion IMF loan and must secure around $6 billion in bilateral financing

Published: Updated:

Egypt is in talks with China to obtain $2 billion in financing, Deputy Finance Minister Ahmed Kojak said, without giving further details.

“All the details are with the central bank,” he said.

Egypt has reached a staff level agreement for a $12 billion loan program from the International Monetary Fund and must secure around $6 billion in bilateral financing to obtain approval for the program.