Egypt: About to conclude $3 bln IMF accord

Finance Minister Samir Radwan said on Sunday Egypt was about to conclude a $3 billion standby financing arrangement with the International Monetary Fund (IMF) but was still working out some of the terms.

He said the funds would be disbursed quarterly under a 12-month agreement, but that Egypt was asking that a large portion of the funds be delivered early. "We are asking that an important part of it be loaded up front," Radwan said by telephone. (Reuters)