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The IMF Has Too Many Economists for Its Own Good

The Fund's bailouts for Egypt had one big problem: they weren't designed by country experts.

By , a Policy Fellow at Tahrir Institute for Middle East Policy.
A picture taken on August 25, 2022 shows Egyptian pound, British pound sterling, and US dollar banknotes.
A picture taken on August 25, 2022 shows Egyptian pound, British pound sterling, and US dollar banknotes.
A picture taken on August 25, 2022 shows Egyptian pound, British pound sterling, and US dollar banknotes. KHALED DESOUKI/AFP via Getty Images

Six years have passed since the International Monetary Fund (IMF) launched its first loan program in Egypt under the presidency of Abdel Fattah al-Sisi. In the interim, the IMF began a second loan program, and it is now about to start a third. Clearly, something is amiss in Egypt. But the deeper problem may lie with the IMF. The IMF’s failures in Egypt are a cautionary tale, highlighting glaring deficiencies in the Fund’s current approach to economic planning.

Timothy E. Kaldas is a Policy Fellow at Tahrir Institute for Middle East Policy.

Read More On Economics | Egypt | Finance and Banking | Middle East and North Africa

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