Egypt in tough talks over IMF loan

euronews (in English)

by euronews (in English)

A delegation from the International Monetary Fund is in Egypt for difficult talks on a 3.74 billion euro loan to ease its economic crisis.

To get the money, Cairo has to convince the IMF it is serious about reforms to boost growth and end an unaffordable budget deficit.

That implies tax hikes and politically risky cuts in the generous system of state subsidies for fuel and bread.