IMF Agrees to $3 Billion Egypt Loan for Post-Mubarak Transition
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Egypt and a visiting International Monetary Fund mission agreed to a $3 billion loan as the North African country seeks to fund its widening budget deficit after a popular revolt earlier this year.
The 12-month loan is part of wider international support pledges for Egypt, where the turmoil that accompanied the uprising that led to the ouster of President Hosni Mubarak has hurt revenue from tourism and industrial output.