International Monetary Fund (IMF) officials visited Egypt this week to discuss the country’s $3bn loan program and reform efforts, amid concerns about the Gaza war’s impact on the economy and potential for expanding the loan. The visit followed a regional IMF retreat held in Egypt. Earlier reports suggested the IMF was considering additional funding to help Egypt cope with the economic pressures of the ongoing Gaza conflict. Both the IMF and Egyptian officials acknowledged the challenging global and regional environment, with geopolitical tensions and the Gaza conflict casting a shadow on emerging markets. The IMF’s visit and ongoing discussions underscore the importance of the loan program for Egypt’s economic stability and the potential for further financial support in light of the Gaza war’s impact.

Source: Daily News Egypt January 20, 2024 22:53 UTC