Egypt's agreement with [the IMF] is the key engine to get the economy out of this crisis.

The loan isn't nearly enough to mend Egypt's depleting foreign cash reserves or fix its budget deficit, but policymakers hope that the IMF's blessing of its economic reform plan will encourage foreign investors and governments to contribute additional cash and aid. "Reaching an agreement with the IMF is a positive signal that the Egyptian economy is able to heal," said Mr. Arabi during a presentation of economic indicators during the first half of Egypt's 2012/2013 fiscal year.
Economic growth in Egypt slowed to 2.2% in the second quarter of the current fiscal year that ends in June, said Mr. Arabi. Policymakers are targeting growth above 3% during the second half of the fiscal year, he said, which would require investments of EGP250 billion ($37.1 billion) this year. Egypt has attracted EGP112 billion ($16.6 billion) in investments so far this year, he added.