After Egypt Central Bank hiked interest rates, IMF released additional loan to the country. Pound was trading at a record low and prices rose.
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A calculation by Bloomberg released by the IMF points out the Arab country could play a relevant role in the progress of the world economy over the next five years. China tops the ranking.
The Egyptian government implemented measures totaling USD 575 million, announced as exceptional aid to help citizens face the impacts of the global crisis.
The International Monetary Fund announced the deliverance of USD 1.6 billion to the country, concluding a USD 5.2 billion agreement. The organization reemphasized the sound prospects for the Egyptian economy, expected to grow 2.8% in the current fiscal year and 5.2% in the next.
