Egypt: IMF Bailout Highlights Risks of Austerity, Corruption
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Hassan Abdalla, the annual meetings chairman and governor of the Central Bank of Egypt, speaks at the 2022 annual meeting of the International Monetary Fund and the World Bank Group, in Washington, DC, October 14, 2022.
© (AP Photo/Manuel Balce Ceneta)
(Washington, DC) — The International Monetary Fund’s new US$3 billion loan agreement with Egypt largely continues an economic approach that leaves the economic rights of millions unprotected, Human Rights Watch and Democracy in the Arab World Now (DAWN) said today.
The agreement includes improved efforts to address deep-seated structural problems such as the opaque role of the military in the economy and inadequate social protection. But other provisions, such as austerity …read more
Source:: Human Rights Watch