Middle East Economic Survey


No 21



Egypt Closing In On $2.2Bn Rescue Loan From World Bank

Egypt is on the verge of finalizing a deal with the World Bank to secure loans worth a total of $2.2bn, Egypts Minister of Finance Samir Radwan revealed on 16 May. This followed a warning by the countrys military leadership that the waves of sectarian strife and violent protests over recent months had hit economic growth rates hard, and were costing Egypt around $40mn per day...