October 18, 2016 / 4:06 PM / a year ago

Egypt says has mustered 60 pct of $6 bln required to secure IMF deal

CAIRO, Oct 18 (Reuters) - Prime Minister Sherif Ismail said on Tuesday Egypt has mustered 60 percent of the $6 billion required to secure a $12 billion International Monetary Fund (IMF) loan.

The IMF in August agreed in principle to grant Egypt the three-year loan facility to back a government reform programme aimed at plugging a budget gap and rebalancing currency markets. Egypt needs to secure $6 billion in bilateral support before the deal goes to the IMF board for approval. (Writing by Amina Ismail; editing by Mark Heinrich)

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