gulfnews : Egypt may need up to $15b from IMF to avoid full-blown crisis

Egypt has little choice but to return to the International Monetary Fund (IMF) to help it find up to $15 billion (Dh55.08 billion) to stave off a full-blown financial crisis, but the ruling army seems to be stalling to avoid blame for approaching a foreign institution for cash on its watch.
The $3 billion facility from the International Monetary Fund (IMF) that Egypt negotiated then rejected in June may no longer be enough to manage an orderly currency devaluation and get a growing budget deficit under control, economists say.
Adding to woes of an economy hammered by months of turmoil and violence, credit rating agency Moody's downgraded Egypt by a notch last week and warned a further cut could be on the way because of political uncertainty.

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