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Egypt Economic Crisis - IMF agrees a $12 billion loan
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12th November 2016
Hit hard (among other factors) by a collapse in revenue from tourism, Egypt has won approval for a $12 billion emergency loan from the International Monetary Fund.
This comes hot on the heels of the decision to move to a floating currency in a bid to stabilise demand and output. Will both decisions help the economy overcome longstanding structural economic weaknesses? What are the downsides for a developing/emerging country of seismic falls in the external value of a currency?
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