Egyptians walk past a currency exchange office in Cairo, Egypt, Monday, March 14, 2016. (AP Photo/Amr Nabil)
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Egyptian officials are holding talks in Cairo with the International Monetary Fund over a loan to help finance the government's economic program.The government said the IMF talks are based on its program.Exchange RateThe central bank has kept the official exchange-rate unchanged at 8.88 pounds per dollar since a more than 10 percent devaluation in March. Officials have said the government plans to raise between $3 billion to $5 billion in the fiscal year ending June 30 .The target: cut the budget deficit to as low as 8 percent of gross domestic product by the 2018-19 fiscal year from about 11.5 percent last year.The government aims to end electricity subsidies by 2019, officials have said.
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