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Egypt asks Russia for a $2bn loan
- Egypt: Sunday, April 21 - 2013 at 05:52
Egyptian industry and trade minister Hatem Saleh has said the government has requested a $2bn loan from Russia during a meeting between presidents Mursi and Putin, Bloomberg has reported. Russia is ready to consider any aid request from Egypt, Putin's spokesman Dmitry Peskov said. Egypt has so far failed to secure an agreement with the International Monetary Fund for a $4.8bn loan to stabilise its economy. The economy of the most-populous Arab country has struggled to recover from the 2011 uprising, growing at about 2% annually, compared with a 6.2% average in the five previous years.
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