Egypt seeking to push forward critical IMF deal in Washington ...Kuwait

The New Arab - News

Egypt is pushing to tie up a crucial financial package from the International Monetary Fund at annual meetings in Washington this week, hoping to stem a currency crisis that has restricted imports and sparked market unease over foreign debt repayments. Egypt began talks with the IMF for a financial support package in March, soon after the Ukrainian crisis threw its already unsettled finances into further disarray and led foreign investors to pull nearly $20 billion out of Egyptian treasury markets in a matter of weeks. The foreign exchange shortage has led to a sharp drop in non-oil imports, which fell by 20% in the April-June quarter, according to central bank data. T

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Last updated : 13 October 2022 clock 12:24 PM

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