IMF loan sharks move in on new Egyptian regime

posted by
June 5, 2011
New Orleans Times-Picayune    
Posted in News

"The International Monetary Fund on Sunday agreed to provide Egypt with $3 billion in financing to help the Arab world's most populous nation ease the blow to its economy sustained by the popular uprising that ousted former President Hosni Mubarak.  The loan announcement comes days after the government unveiled a draft budget that projects the deficit swelling to nearly 11 percent of the nation's gross domestic product, as officials look to boost social services spending to meet persistent demands by a population that complained of gross economic inequity under the former regime." (06/05/11)  

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