Egypt's current account gap narrows, but overall BoP records deficit    Egypt's PM reviews debt reduction strategy, eyes more private investment    Egypt hosts international neurosurgery conference to drive medical innovation    Egypt, India discuss expanding industrial, investment partnerships    World Bank proposes Egypt join new global health initiative    Egypt's EDA discusses Johnson & Johnson's plans to expand investment in local pharmaceutical sector    I won't trade my identity to please market: Douzi    Sisi sends letter to Nigerian president affirming strategic ties    Egypt welcomes 25-nation statement urging end to Gaza war    Egypt, Senegal sign pharma MoU to unify regulatory standards    Egyptian pound ticks down in early Tuesday trading    Famine kills more Gaza children as Israel tightens siege amid global outrage    Kuwait's Crown Prince, Egyptian minister discuss strengthening cooperation    Egyptian Drug Authority discusses plans for joint pharmaceutical plant in Zambia    Egypt's FM seeks deeper economic, security ties on five-nation West Africa tour    Two militants killed in foiled plot to revive 'Hasm' operations: Interior ministry    Egypt foils terrorist plot, kills two militants linked to Hasm group    Egypt, Somalia discuss closer environmental cooperation    Egypt exports 175K tons of food in one week    Giza Pyramids' interior lighting updated with new LED system    Egypt's EHA, Huawei discuss enhanced digital health    Foreign, housing ministers discuss Egypt's role in African development push    Korea Culture Week in Egypt to blend K-Pop with traditional arts    Egypt, Uruguay eager to expand trade across key sectors    Egypt reveals heritage e-training portal    Three ancient rock-cut tombs discovered in Aswan    Sisi launches new support initiative for families of war, terrorism victims    Egypt expands e-ticketing to 110 heritage sites, adds self-service kiosks at Saqqara    Egypt's Irrigation Minister urges scientific cooperation to tackle water scarcity    Palm Hills Squash Open debuts with 48 international stars, $250,000 prize pool    Egypt's Democratic Generation Party Evaluates 84 Candidates Ahead of Parliamentary Vote    On Sport to broadcast Pan Arab Golf Championship for Juniors and Ladies in Egypt    Golf Festival in Cairo to mark Arab Golf Federation's 50th anniversary    Germany among EU's priciest labour markets – official data    Paris Olympic gold '24 medals hit record value    A minute of silence for Egyptian sports    Russia says it's in sync with US, China, Pakistan on Taliban    It's a bit frustrating to draw at home: Real Madrid keeper after Villarreal game    Shoukry reviews with Guterres Egypt's efforts to achieve SDGs, promote human rights    Sudan says countries must cooperate on vaccines    Johnson & Johnson: Second shot boosts antibodies and protection against COVID-19    Egypt to tax bloggers, YouTubers    Egypt's FM asserts importance of stability in Libya, holding elections as scheduled    We mustn't lose touch: Muller after Bayern win in Bundesliga    Egypt records 36 new deaths from Covid-19, highest since mid June    Egypt sells $3 bln US-dollar dominated eurobonds    Gamal Hanafy's ceramic exhibition at Gezira Arts Centre is a must go    Italian Institute Director Davide Scalmani presents activities of the Cairo Institute for ITALIANA.IT platform    







Thank you for reporting!
This image will be automatically disabled when it gets reported by several people.



IMF team in Egypt for talks over $3bn loan progress
Published in Daily News Egypt on 21 - 01 - 2024

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.
Jihad Azour, Director of the IMF's Middle East and Central Asia Department, was in Cairo, where he met with Egyptian authorities and regional stakeholders. The visit followed a regional IMF retreat held in Egypt.
"An IMF team led by Ivanna Vladkova Hollar, our Mission Chief for Egypt, is currently in Cairo to continue discussions on the first and second reviews of Egypt's reform program under the Extended Fund Facility," the IMF said in a statement.
"We will communicate at the end of the visit," the statement added, leaving the door open for further announcements.
Earlier reports suggested the IMF was considering additional funding to help Egypt cope with the economic pressures of the ongoing Gaza conflict.
Last week, a high-level Egyptian delegation, including Central Bank Governor Hassan Abdalla, Finance Minister Mohamed Maait, and International Cooperation Minister Rania Al-Mashat, met with IMF Managing Director Kristalina Georgieva and US Treasury Secretary Janet Yellen in Washington.
Those talks aimed to strengthen bilateral cooperation and advance progress on expanding the $3bnloan program, which has faced delays due to concerns about currency and asset sale reforms.
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.
Recognizing these difficulties, both sides emphasized the need for concerted international efforts to support developing countries and emerging economies.
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.


Clic here to read the story from its source.