Isn't the GDP of NYC alone 3x that of the entire country of Egypt? Yes. The better question is what fraction of their GDP is this loan? Well, 1.6%. It's no

Isn't the GDP of NYC alone 3x that of the entire country of Egypt? Yes. The better question is what fraction of their GDP is this loan? Well, 1.6%. It's notable because while taking IMF loans has been a revolving door policy with Egypt this is the largest yet and the size was increased once already. It's being billed as an emergency loan because it is. Egypts debt load has tripled over the past year or two and they're stuck at a 10% deficit that's slowly crippling the country.