Egypt receives $50bn rescue from UAE and IMF deal, signaling deep economic crisis.
Egypt's $50bn rescue by the UAE and a new deal with the IMF reveal the depth of the country's economic crisis. Despite the government's declaration that the economy has been saved, many Egyptians are bracing for harder times ahead. This intervention exceeds $50bn, highlighting how far the largest Arab nation has fallen amidst an economic crisis that has been building for years.
March 25, 2024
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