Qatar extended to Egypt a $2.5bn financial lifeline on Tuesday, in an effort to shore up the weakening Egyptian currency and avert an economic crisis.
The International Monetary Fund Tuesday warned Egypt that any major changes to the country’s economic policy or outlook would prevent approval of a $4.8 billion loan deal reached earlier this month. “The staff-level agreement on financial support
Egypt reached a preliminary agreement on Tuesday with the International Monetary Fund for a $4.8 billion loan, a step seen as vital to shoring up the nation’s finances. Investors who abandoned Egypt during the political turmoil that followed the overthrow of Hosni Mubarak
The Egyptian government on Wednesday requested a $4.8 billion loan from the International Monetary Fund, in the country’s latest attempt to secure financing for an economy badly damaged by political upheaval since the fall of President Hosni Mubarak.