Written by Muhammad Sharqawi Tuesday, February 27, 2024 09:11 PM
Cairo News Channel reported in breaking news that the Director of the International Monetary Fund announced that the main issues in the Fund’s review of Egypt’s loan program have been resolved and we expect an agreement within weeks.
He was Director of the Middle East and Central Asia Department International Monetary FundJihad Azour confirmed that the link between the size of the Fund’s loan to Egypt and the issue of refugees from the Gaza Strip is incorrect, pointing out that the program was developed about a year and two months ago, and the first and second review took place before the Gaza War, adding that there is no doubt that Egypt and others have been economically affected by the current events. The risk rate has increased, and the size of the loan is linked to the financing gap and has nothing to do with political aspects.
Azour added in an interview with Al Arabiya Business, “The UAE investment in Egypt is an important event, but it is not linked to the Fund’s discussions with Cairo, and these two topics are completely separate, and we have not yet seen the details of the deal between the UAE and Egypt.”
2024-02-27 19:11:00
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