CAIRO (AP) — Egypt on Wednesday floated its currency and announced a deal with the International Monetary Fund to increase its bailout loan from $3 billion to $8 billion, moving to shore up an economy hit by a staggering shortage of foreign currency and soaring inflation. The flotation of the Egyptian pound, combined with a sharp raise of the main interest rate, is meant to combat inflationary waves and attract foreign investment. The measures, announced by the Central Bank of Egypt early Wednesday, were among the key demands of the IMF to increase its $3 billion bailout loan that both parties agreed to in 2022.