IMF Managing Director Chrietine Lagarde will soon visit Egypt to hold discussions with on an IMF loan . . . Finance Minister Momtaz al Saaed said Egypt will seek $4.8 billion from the IMF, higher than the $3.2 billion previously discussed . . . Qatar announced a $2 billion loan to Egypt this week . . . the World Bank is prepared to give a $200 million loan and the US is considering a $500 million aid request . . . the positive moves indicate the IMF and Egypt are moving toward signing a deal after a year of difficult negotiations . . . Cairo needs around $12 billion to avert a balance of payments crisis . . . an IMF agreement will help with the process and improve investor and lender confidence in the country.
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