Tag Archives: revolution

The Divine Path Towards IMF’s Money

BETWEEN PRAGMATISM, FEAR AND FAITH IN THE RELATIONS BETWEEN EGYPT AND THE WEST
by Romain Gustot

blog 5The revolution in Egypt has brought about some important changes in the relation between the new decision-makers and the international institutions. One of the best illustrations is the ever-changing attitude of the Egyptian government toward the EU and the International Monetary Fund’s (IMF) money. On December 20th 2012, Egypt has finally committed itself to accept the $4.5 billion loans from the IMF in order to straighten its financial situation. Van Rompuy also announced last Sunday 13 January that the EU offers Egypt 5 billion euros ($6.7 billion) in grants and loans stressing that a deal with the IMF was a condition to trigger additional financial support.

This contribution was posted on the ARTE Blog; consult here