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

|By:, SA News Editor

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.