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In the News

Egypt Economic Crisis - IMF agrees a $12 billion loan

Geoff Riley

12th November 2016

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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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Geoff Riley

Geoff Riley FRSA has been teaching Economics for nearly forty years. He has over twenty years experience as Head of Economics at leading schools. He writes extensively and is a contributor and presenter on CPD and Revision conferences in the UK and overseas.

@tutor2uGeoff

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