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Egypt officially turns to the IMF for a loan to cover a government deficit expected to reach 10%...

Egypt officially turns to the IMF for a loan to cover a government deficit expected to reach 10% of GDP next year. The country will need $12B to get through the end of 2012. After some wild gyrations while Egypt's stock market was closed, EGPT has cooled off, now near its lows of the year.
Comments (4)
  • Wyatt Junker
    , contributor
    Comments (4503) | Send Message
     
    Maybe these honorable civilians should stop burning cars and breaking storefront window glass then.

     

    Then perhaps people would want to come back and visit the two large pile of rocks and the Sphynx, which the Brits used as target practice to knock off its schnozz. Maybe get a little tourism money going again? I dunno. Just an idea.

     

    But no. Whine and beg for money. Brilliant.
    12 May 2011, 05:42 PM Reply Like
  • tigersam
    , contributor
    Comments (1711) | Send Message
     
    Mummy was gone in the last riot. Leaders who started the riots disappeared. CNN showed them only for few days.
    12 May 2011, 09:29 PM Reply Like
  • Bouchart
    , contributor
    Comments (755) | Send Message
     
    They need $12 billion to get through the end of the year or what, the government will collapse?
    12 May 2011, 05:59 PM Reply Like
  • tigersam
    , contributor
    Comments (1711) | Send Message
     
    Why you are turning to IMF. Take it out of Mubarak's Swiss account. That will last at least 10 years.
    12 May 2011, 09:25 PM Reply Like
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