Egypt may resume talks on financing from IMF

Egypt may resume negotiations with the International Monetary Fund for a financing facility, a minister said on Thursday after Cairo turned down an offer of a $3 billion facility in June saying it did not need the funds. Egypt's economy has been hammered by the uprising that unseated Hosni Mubarak in February, widening the budget deficit. "Egypt may need to restart talks with the IMF to obtain loans," Planning and International Cooperation Minister Faiza Abu el-Naga told reporters, adding that the decision to turn down the facility earlier this year "may be under review."