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IMF may need to augment Egypt programme amid Gaza war impacts, Georgieva says

20 Nov 2023

International Monetary Fund managing director Kristalina Georgieva noted the Fund was "seriously considering" a possible augmentation of Egypt's $3bn loan programme due to economic difficulties posed by the Israel-Hamas war.

Source: Reuters.

Georgieva said in an interview on the sidelines of the Asia Pacific Economic Cooperation Summit that the conflict is "devastating" Gaza's population and economy and has "severe impacts" on the West Bank's economy, and is also posing difficulties for neighbouring countries Egypt, Lebanon and Jordan through the loss of tourism and higher energy costs.

Source: Reuters

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