Egypt's economy has been struggling since the 2011 popular uprising that overthrew longtime autocrat Hosni Mubarak, with high inflation, foreign currency shortages, and lack of tourism and investment. The lack of foreign currency has been compounded by a drop in tourism revenues in the wake of recent terrorist attacks. Egypt hopes the loans can generate momentum that will boost growth, reassure potential investors and give the country enough leeway to restructure the economy. The foreign currency shortage is all the more worrying in a country highly reliant on imports, including food, consumer goods and industrial parts and products. The International Monetary Fund said Thursday it will grant Egypt a $12 billion loan over three years to help the Arab world's most populous country mend its ailing economy following years of unrest.

Source: ABC News August 11, 2016 10:36 UTC