Egypt’s Financial Crisis: After elections, Egypt’s focus is loans | World Business Watch
The cash-strapped nation is expected to get more financial aid after the election. This might help reduce the country’s dollar shortages and encourage much-needed international investment. A bloomberg report quoting sources says that Egypt is close to reaching an agreement with the International Monetary Fund (IMF) to increase the size of its $3 billion rescue programme to about $6 billion. Egypt is yet to receive a majority of the imf’s already agreed $3 billion bailout money.
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