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Vol 52 No 21

Published 21st October 2011


Egypt

Coffers empty, power for sale

The revolution has run low on funds as tourists have stayed away and businesses closed after President Mohamed Hosni Mubarak fell in February. Flaunting its nationalism, the Supreme Council of the Armed Forces in June rejected a US$3 billion International Monetary Fund standby loan (seen as the softest the Fund had ever offered) and stalled other finance, saying only a permanent government could agree big deals. One activist said darkly that by starving the transitional government of funds, the SCAF was trying to strangle the revolution.

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