4min chapter

Patrick Boyle On Finance cover image

Egypt's Currency Crisis!

Patrick Boyle On Finance

CHAPTER

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.

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