Butthe IMFdisagrees. Itargues, in new papersreleased on FridayMarch6th, that the "main culprit" wasdeficientregulationofthefinancialsystem, together with a failure ofmarket discipline.
Withthe prospect of an IMF agreement receding, analysts say a bridge finance package might be put together by theIMFwith other donors to tide Cairo over until after the elections.