CAIRO: Egypt will begin repaying IMF financing worth $3 billion in 3-1/4 years’ time, the country’s Finance Minister Samir Radwan said on Sunday.
The rate of interest to be paid on the funds will be variable from 1.5 percent, Radwan told reporters in Cairo.
The IMF’s Regional Deputy Director Ratna Asahay said its board would meet to approve the financing plan in mid-July and the funds would be made available the same day.
