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Egypt considering IMF loan offer

Egypt's finance minister Hazem el-Beblawi has announced the country is reconsidering a proposed IMF financing package, and is still in talks with Gulf countries for funds of nearly $7bn, Reuters has reported. The IMF had proposed a $3.2bn aid package earlier this year, which was turned down in June by the former finance minister. "Everyone knows that the IMF has proposed a package of aid of $3.2 billion. At the time we were hesitant. Now we won't change our stand but we are changing our attitude," Beblawi, who took over the portfolio in July, said.