IMF and Egypt Negotiating $4.8 Billion Loan

Revelation 6:5,6 NCV When the Lamb opened the third seal, I heard the third living creature say, "Come!" I looked, and there before me was a black horse, and its rider held a pair of scales in his hand. Then I heard something that sounded like a voice coming from the middle of the four living creatures. The voice said, "A quart of wheat for a day's pay, and three quarts of barley for a day's pay, and do not damage the olive oil and wine!"

The Egyptian government is seeking a massive loan from the International Monetary Fund to help the country’s foundering economy.

The negotiations between government officials and IMF representatives in Cairo is contingent on proving that the nation is serious about economic reform.

The Egyptian pound has lost ten percent of its value since the beginning of 2013. Inflation has significantly risen and the lack of funds has caused the government to cut back on imports.

Also, tourism has fallen off significantly in the wake of the recent revolution and control of the Muslim Brotherhood over the country. Analysts say the continuing political uncertainty is making potential tourists seeking other destinations.

This is the second time the IMF has looked into a loan to the nation. Last November a deal had been reached but the IMF scuttled the agreement admin political conflict between the Muslim Brotherhood and opposition parties.

The Muslim Brotherhood would like to get the money into the economy before parliamentary elections later this year.

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