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Egypt discussing finance package with Saudi, UAE

Egypt is discussing financial packages for budgetary and other support with Saudi Arabia and the UAE that could exceed a total of $5 billion based on figures initially proposed, the Egyptian finance minister said on Monday.

September 19, 2011 11:12 by

Hazem el-Beblawi also told Reuters that Cairo was open to “all sorts of cooperation” with the International Monetary Fund, which offered a $3 billion financing package earlier this year that Egypt then turned down.

“I don’t want to give the impression that I am going to negotiate for a loan, but I am going with an open mind,” the finance minister said of talks he was due to have in Washington at IMF and World Bank meetings this month. (Writing by Edmund Blair)

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