Political uncertainty complicating access to IMF loan
Egypt’s Tahrir Square was once more been the epicentre of massive popular demonstrations on Wednesday, as tens of thousands of Egyptians gathered there to celebrate the first anniversary of the revolution that ended President Hosni Mubarak’s rule. As Mubarak faces trial for his handling of the uprising, the country appears socially and politically split. And political uncertainty is undermining Egypt’s ability to deal with massive unemployment and reconstruction. The current military caretaker government has requested a $3.2 billion loan from the International Monetary Fund. The country urgently needs the money, but the Fund has said it needs about three months to finalize the details of the disbursement, and that any loan would need broad political support.