Egypt’s leaders and the International Monetary Fund have struck a tentative deal for a $12 billion, three-year loan. If approved by the IMF Board next month, the new program will be an important opportunity to improve relations between the two sides – an outcome that would benefit both Egypt’s citizens and the Fund’s credibility.
LAGUNA BEACH – The Egyptian authorities and International Monetary Fund staff have struck a deal. If the IMF Board agrees next month, Egypt will receive a $12 billion loan to support the implementation of economic reforms. The primary objective of the three-year program will be to unleash Egypt’s considerable potential, enhance growth and job creation, and tackle foreign-exchange shortages. But the deal also represents an important opportunity to improve relations between Egypt and the IMF – an outcome that would yield far-reaching benefits for both sides.
LAGUNA BEACH – The Egyptian authorities and International Monetary Fund staff have struck a deal. If the IMF Board agrees next month, Egypt will receive a $12 billion loan to support the implementation of economic reforms. The primary objective of the three-year program will be to unleash Egypt’s considerable potential, enhance growth and job creation, and tackle foreign-exchange shortages. But the deal also represents an important opportunity to improve relations between Egypt and the IMF – an outcome that would yield far-reaching benefits for both sides.