Egypt, France airdrop aid to Gaza amid growing humanitarian crisis, global criticism of Israel    Supply minister discusses strengthening cooperation with ITFC    Egypt launches initiative with traders, manufacturers to reduce prices of essential goods    SCZONE chief discusses strengthening maritime, logistics cooperation with Panama    Egypt strengthens healthcare partnerships to enhance maternity, multiple sclerosis, and stroke care    Egypt keeps Gaza aid flowing, total tops 533,000 tons: minister    Egypt reviews health insurance funding mechanism to ensure long-term sustainability    Gaza on verge of famine as war escalates, ceasefire talks stall    Gaza crisis, trade on agenda as Trump hosts Starmer in Scotland    Egyptian president follows up on initiatives to counter extremist thought    Indian Embassy to launch cultural festival in Assiut, film fest in Cairo    Egyptian aid convoy heads toward Gaza as humanitarian crisis deepens    Culture minister launches national plan to revive film industry, modernise cinematic assets    Egypt will keep pushing for Gaza peace, aid: PM    I won't trade my identity to please market: Douzi    Sisi calls for boosting oil & gas investment to ease import burden    EGX to close Thursday for July 23 Revolution holiday    Egypt welcomes 25-nation statement urging end to Gaza war    Sisi sends letter to Nigerian president affirming strategic ties    Egypt, Senegal sign pharma MoU to unify regulatory standards    Two militants killed in foiled plot to revive 'Hasm' operations: Interior ministry    Egypt, Somalia discuss closer environmental cooperation    58 days that exposed IMF's contradictions on Egypt    Egypt's EHA, Huawei discuss enhanced digital health    Foreign, housing ministers discuss Egypt's role in African development push    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    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.