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Egypt ‘negotiating $2.5 billion loan’ as economy suffers

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Al-Araby

Egypt is reportedly eyeing up the possibility of raising around $2.5 billion in loans as its economic crisis continues to spiral, anonymous sources familiar with the matter told Bloomberg. Talks between Cairo and regional and international banks about the details of the financing of the loan are in the early stages, the sources said. Egyptian government officials said they are unaware of the talks, according to the business news outlet. On Wednesday, Egypt’s statistic agency CAPMAS released data that showed annual urban consumer inflation accelerated to a higher-than-expected 13.6% year-on-yea…

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