IMF official says Ras al-Hikma deal recognizes the potential of Egypt’s economy to generate additional tourism revenues ...Egypt

EGYPT INDEPENDENT - Economy

International Monetary Fund (IMF) Mission Chief for Egypt Ivanna Vladkova Hollar said that the Ras al-Hikma deal, which is worth $35 billion, will reduce the pressure on the balance of payment but if it were used prudently. She told a new conference on Monday that the expectation for what is a prudent use of the new resources coming into Egypt, from the Ras al-Hikma deal, is “to ensure that those resources are used to reduce Egypt’s vulnerabilities and to make sure that they’re used to improve the outlook, the economic outlook facing Egypt.” “And from that perspective, what we mean and what we have heard as a commitment from the Egyptian authorities is to save a significant portion of those

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IMF official says Ras al-Hikma deal recognizes the potential of Egypt’s economy to generate additional tourism revenues ...Egypt

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