Reuters: US Dollar Report: UPDATE 1-Egypt to send economic plan to parliament in days-minister

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UPDATE 1-Egypt to send economic plan to parliament in days-minister Feb 26th 2013, 11:34 Tue Feb 26, 2013 6:34am EST CAIRO Feb 26 (Reuters) - Egypt plans to send a revised economic reform plan to parliament within two days and to the International Monetary Fund immediately after that, Finance Minister Al-Mursi Hegazy said on Tuesday. "As soon as the laws are sent to parliament, they will be sent (to the IMF)," he told reporters. Asked when Egypt planned to invite an IMF delegation to resume talks on a $4.8 billion loan, Hegazy said: "I think within 10 days to two weeks." Two years of political turmoil since a 2011 uprising ousted President Hosni Mubarak have battered Egypt's economy by driving away foreign investors and tourists, a major source of the foreign currency it needs to import fuel and wheat. The country is struggling with a falling currency and a budget deficit that is becoming unaffordable. The revised economic programme is essential for securing the IMF loan to shore up the economy. The IMF and Egypt agreed on the loan in principle in November, but talks were suspended at Cairo's behest in December because of street violence. On Monday, Investment Minister Osama Saleh said Egypt would reopen talks with the IMF next month.

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