The Egyptian government has finally concluded an initial loan agreement with the IMF following two years of continual negotiations. The agreement is to be finalised by the IMF board and then signed and ratified by the Egyptian president, who holds both executive and legislative powers following the parliament’s disbanding several months ago. The government hopes that the loan will help to overcome Egypt’s chronic fiscal and financial problems that have become pressing due to the political turmoil following Mubarak’s ouster in February 2011.