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Egypt govt to discuss IMF assistance on Saturday: PM

Egypt's President Mohamed Mursi (R) meets with Egypt's new Prime Minster Hisham Kandil at the presidential palace in Cairo, July 25, 2012. REUTERS/Egyptian Presidency/Handout

CAIRO (Reuters) – Egypt’s new Prime Minister Hisham Kandil will hold a meeting with members of his government on Saturday to discuss the next steps on seeking an International Monetary Fund loan, Kandil said.

Egypt’s President Mohamed Mursi (R) meets with Egypt’s new Prime Minster Hisham Kandil at the presidential palace in Cairo, July 25, 2012. REUTERS/Egyptian Presidency/Handout

An IMF deal would help Egypt stave off a budget and balance of payments crisis and add credibility to economic reforms needed to restore the confidence of investors who fled the country after a popular uprising last year.

“We will have a meeting on Saturday headed by me to look into our next steps,” Kandil told reporters in Cairo on Thursday.

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