Published
The International Monetary Fund has approved an $8bn loan to Egypt.
The country's Prime Minister says the deal will help restore economic stability.
The announcement came as the Egyptian pound plummetted to a record low against the US dollar.
Egypt's central bank has hiked interest rates by 600 points.
Devaluation was one of the IMF's key demands for Egypt.
Al Jazeera’s Mohamed Vall reports.
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#Egypt #EgyptianPound #IMF #EgyptEconomy #EgyptEconomicCrisis #AlJazeeraEnglish
The country's Prime Minister says the deal will help restore economic stability.
The announcement came as the Egyptian pound plummetted to a record low against the US dollar.
Egypt's central bank has hiked interest rates by 600 points.
Devaluation was one of the IMF's key demands for Egypt.
Al Jazeera’s Mohamed Vall reports.
Subscribe to our channel http://bit.ly/AJSubscribe
Follow us on Twitter https://twitter.com/AJEnglish
Find us on Facebook https://www.facebook.com/aljazeera
Check our website: https://www.aljazeera.com/
Check out our Instagram page: https://www.instagram.com/aljazeeraenglish/
Download AJE Mobile App: https://aje.io/AJEMobile
#Egypt #EgyptianPound #IMF #EgyptEconomy #EgyptEconomicCrisis #AlJazeeraEnglish
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