Two years on from Cairo’s November 2016 decision to devalue the currency as part of a $12bn assistance package from the IMF and Egypt’s finances look far more healthy.
In a 31 October statement, following the fourth review of the country’s finances, the IMF says “strong implementation of the reform program” has seen growth accelerate from 4.2% in 2016-17 to 5.3% in 2017-18. It cites a recovery in tourism, rising gas output and the implementation of an “ambitious reform program” as key. (CONTINUED - 817 WORDS)
