VOL. XLV

No 1

7-January-2002

EGYPT

Egypt Seeks $2bn In Soft LoansFrom International, Arab Agencies

The Government of Egypt is seeking$2bn in soft loans from international and Arab funding agencies to help addressits balance of payments deficit, which has resulted from a sharp drop inforeign exchange revenues as a result of the slump in tourism following the 11September attacks and earlier economic strife. In order to secure funds, thegovernment has contacted the International Monetary Fund...