in

IMF defers annual consultation with Egypt pending review of $3 billion rescue program

The IMF is actively coordinating with Egyptian authorities to finalize this review under the Extended Fund Facility for macroeconomic stabilization. Regular IMF health checks involve local meetings and report presentations to its executive board.

As the IMF’s second-largest borrower after Argentina, Egypt faces substantial financing needs that are not being met by foreign direct investments, portfolio inflows, and asset sales, as per Morgan Stanley’s analysis.

The country’s economic situation is further complicated by currency devaluations and political decisions by President Abdel-Fattah El-Sisi. With an upcoming presidential election and concerns about Egypt’s 105 million population, the economic complexity increases.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.


Source: Economy - investing.com

Blockchain finance to grow into $79.3B market by 2032

Bank of Korea to start CBDC infrastructure pilot