Egypt debunks reports about talks with IMF for new loan

The Egyptian government has branded rubbish reports it is in talks with the International Monetary Fund (IMF) for an assistance package.
Planning minister Hala El-Said told Reuters the Arab country is not seeking a loan from the Washington-based institution, Arab Finance reports.
The IMF is a great support to Egypt and should something happen, we will announce it, the minister stated. The denial follows speculations this month by analysts at JPMorgan that the African country might apply for another assistance package from the IMF if the economic situation deteriorated.

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