Egypt loan talks end without deal but IMF sees progress

April 16, 2013 07:38

CAIRO - Egypt and the International Monetary Fund failed to agree on terms for a $4.8 billion loan that could ease a worsening economic crisis in the Arab world's most populous nation.

After nearly two weeks of negotiations in Cairo, IMF mission chief Andreas Bauer, in a statement issued early on Tuesday, cited progress, notably in Egypt's efforts to better target fuel subsidies and broaden its revenue base.

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