Will Egypt's IMF bailout dispel domestic money fears?

All over Egypt from street kiosks to TikTok, Egyptians are in despair at the price of groceries as inflation rapidly outpaces modest wage hikes.

The government is expected to imminently announce an International Monetary Fund (IMF) bailout upwards of $6 billion, but will that new debt deal make a difference to the millions of Egyptians living in financial fear? 

Egypt is in the final stages of securing the multi-billion dollar IMF loan after its economic crisis worsened due to the Gaza war and a crippling 2024 debt repayment schedule, which drains over half of the state budget.

Major international banks predict the $6 billion loan will be boosted by a further $6 billion of funds from Egypt’s allies.