VOICED : Egipo deja fluctuar la libra

Egypt decided to float its currency, the Libra, to restore economic confidence. The exchange rate shifted significantly, and the IMF expressed concerns about Egypt's monetary crisis. The reforms aim to secure a $12 billion loan from the IMF. The Cairo stock market reacted positively, but the government faces challenges with high inflation and poverty.

What major change did Egypt make to its currency policy?

• Allowed it to float

• Pegged it to the Euro

• Backed it with gold

• Fixed the exchange rate

What was the exchange rate of the Egyptian Pound after the announcement?

• 8.8 dollars per pound

• 12 dollars per pound

• 14 dollars per pound

• 10 dollars per pound

Why is the International Monetary Fund concerned about Egypt?

• Monetary crisis

• Political instability

• Environmental issues

• Trade deficits

What is the goal of Egypt's economic reforms?

• To improve education

• To reduce taxes

• To secure a loan from the IMF

• To increase tourism

What economic challenge does Egypt face despite the stock market's positive reaction?

• Rising unemployment

• Decreasing oil prices

• High inflation and poverty

• Low foreign investment