Monday, June 6, 2011

Egypt seals $3 billion IMF accord - Yahoo! News

Egypt seals $3 billion IMF accord - Yahoo! News: "CAIRO (Reuters) – The International Monetary Fund (IMF) agreed a $3 billion financing deal with Egypt on Sunday and praised the policies of an interim government struggling to stabilize the economy after the popular uprising.

Egypt has been seeking funds to plug an estimated $10 billion to $12 billion balance of payments gap in the wake of the upheaval that toppled the government in February.

Anger at a growing rich-poor divide in the country of 80 million helped spark the mass demonstrations that toppled President Hosni Mubarak in February."

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