"The restoration of macroeconomic stability will allow Egypt to put the economic turbulence of the post-revolution period behind it," the IMF said in its report. In its report, the IMF acknowledged the risk that the government could cave to political pressure to slow down painful changes. "The risks to the program mainly arise from the difficulties inherent in implementing a strong and wide-ranging reform program," the IMF said. The IMF's US$12 billion loan is part of a wider financing package for Egypt, which is estimated to need US$35 billion over three years. The IMF said the program was fully financed for the first year but additional financing was needed for the next two years.

Source: Egypt Independent January 19, 2017 08:57 UTC