Egypt secures $5.2 billion IMF loan amid coronavirus fallout

CAIRO (AP) — The International Monetary Fund has approved Egypt’s request for a $5.2 billion loan as the country’s economy reels from the financial fallout of the coronavirus pandemic. The one-year arrangement approved Friday aims to boost Egypt’s social spending, spur job creation and advance structural reforms. The deal comes on top of a separate $2.77 billion emergency financing announced last month. Egypt had been one of the fastest-growing emerging markets in the wor