A woman begs in front of a boutique with prices attached to clothing items in downtown Cairo. The International Monetary Fund said it signed an initial agreement with Egypt on Thursday, August 11, 2016 to loan the country $12 billion over three years to help fix its ailing economy. Nariman El-Mofty / AP Photo
A woman begs in front of a boutique with prices attached to clothing items in downtown Cairo. The International Monetary Fund said it signed an initial agreement with Egypt on Thursday, August 11, 201Show more
Egypt reaches initial agreement with IMF on $12bn loan
The IMF announced that after two weeks of talks, it had reached a “staff level agreement” with the Egyptian authorities to provide the country with a three-year loan.