Kristalina Georgieva, the Managing Director of the International Monetary Fund, confirmed that the Fund is not currently discussing increasing the Egyptian loan program of $8 billion, according to Masrawy.
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Kristalina Georgieva, the Managing Director of the International Monetary Fund, confirmed that the Fund is not currently discussing an increase in the Egyptian loan program of $8 billion despite the impact of the war on its economy, as reported by Reuters. At a press conference during the Spring Meetings of the International Monetary Fund and the World Bank in Washington, she pointed out that the Fund expects at least 12 countries to seek new loan programs to cope with rising energy prices and supply chain disruptions caused by the Middle East war, with many sub-Saharan African countries seeking assistance. Kristalina Georgieva, the Managing Director of the International Monetary Fund, also warned of worsening supply disruptions as a result of the closure of the Strait of Hormuz, even if the conflict ends quickly, and urged countries to take measures to reduce their fuel consumption. Georgieva reiterated her estimate that the disruptions caused by the war could lead to a new ...