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Egypt says will not need IMF, World Bank funds

Egypt will not borrow from the World Bank and International Monetary Fund after revising its budget and cutting the forecast deficit, even though a loan had been agreed, Finance Minister Samir Radwan said Saturday.

 

World Bank unveils $6 billion for Egypt and Tunisia

World Bank President Robert Zoellick on Tuesday unveiled $6 billion in funding to help Tunisia and Egypt address budget and reserve shortfalls this year and next, following popular uprisings that ended years of dictatorships but which have caused economic stress.

 

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