Article

2016-11-12 Africa North

IMF approves $12 billion loan to aid Egypt’s struggling economy

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Posted by trailing wife 2016-11-12 04:08|| || Front Page|| [5 views ] Top

#1 In the aftermath of the "Arab Spring" and the disastrous Muslim Brotherhood's Morsy revolution, the Egyptian budget deficit exploded. Morsy's economists argued that to survive his government would require an IMF loan package anywhere from $10-15 billion. Meanwhile, the central bank devalued the Egyptian pound while foreign reserves were reduced by some $16 billion. The Egyptian economy has yet to recover, and where that $16 billion went is anyone's guess.

Posted by Heriberto Greper9897 2016-11-12 07:42|| 2016-11-12 07:42|| Front Page Top

#2 Another institution we hope dissolves under the new administration.

Posted by Skidmark 2016-11-12 09:13|| 2016-11-12 09:13|| Front Page Top

#3 Please take care of Egypt. Don't lose it again

Posted by newc 2016-11-12 22:16|| 2016-11-12 22:16|| Front Page Top

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