When the International Monetary Fund (IMF) board meets in a few weeks to consider a nearly $5 billion financing agreement for Egypt, its members will need to ensure that the economic outlook for the country has not changed and, perhaps more pertinently, that the government is capable of successfully implementing its economic reform program. ¡Concern is mounting in financial circles over IMF approval as the country is gripped by a wave of protests against a presidential decree issued on Nov. 22 by Egypt's Islamist leader Muhammed Mursi granting himself sweeping powers and putting his decisions beyond judicial review.
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