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Wednesday, 20 April 2016

Bailouts are all the rage in the region this season

Bailouts Are Big in the Middle East This Seasonis the headline of a Bloomberg roundup on IMF bailouts in the region. Egypt’s bailout funds are still touch and go, with Germany’s Economy Minister Sigmar Gabriel offering to mediate for Egypt in talks with the IMF, the Paris Club, and the European Union, but urging the government to embrace economic reforms as a condition and pointed a finger at the country’s “worrying” human rights situation. Meanwhile, Iraq expects to receive about USD 6 bn from the IMF and the World Bank this year, the IMF approved a USD 2.8 bn credit facility for Tunisia, and Morocco is “seriously considering” renewing a USD 5 bn IMF credit line.

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