AI-powered
podcast player
Listen to all your favourite podcasts with AI-powered features
The Importance of the IMF Loan to Egypt
In mid-2016, a severe foreign exchange shortage began to cripple Egypt's economy. As a precondition to securing IMF approval, Egypt needed to raise $6 billion in external funds. The three-year $12 billion IMF loan to Egypt was packaged with a reform agenda that focused on monetary, fiscal, and structural reforms.