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The Boston Globe

World

John Kerry prods Egypt on economic reforms

Overhaul is key to secure $4.8b loan from IMF

CAIRO — John Kerry made his first trip to an Arab capital as secretary of state on Saturday, hoping to prod Egyptian politicians to forge a political consensus and commit themselves to crucial economic changes.

Egypt needs an economic overhaul to secure a crucial $4.8 billion loan from the International Monetary Fund. The United States and the European Union are prepared to provide hundreds of millions of dollars in additional assistance if Egypt can reach agreement with the IMF.

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