Failing that, it is difficult to see how Egypt alone can get back on its feet. The key tourism sector has yet to recover from the fallout of the popular uprising that toppled longtime-ruler Mubarak, and neither has the stock market.
Official unemployment stands at over 10 percent. Fuel shortages and power outages have aggravated the public, as have anticipated cuts in fuel subsidies, raising the possibility of a vicious cycle of resentment that could continue to fuel protests if additional foreign funding is not acquired.
‘‘The IMF loan is really the only option,’’ economist Simon Kitchen at EFG-Hermes said.