“The measures that the central bank took last week in hiking interest rates...goes in the right direction. It's very important to control inflation," Azour explained
Abdalla stated that the IMF deal will undoubtedly help Egypt restore macroeconomic stability and enhance its ability to absorb external shocks
Egypt will also receive $5 billion from international partners and $1 billion from a sustainable fund which will help the country finance its external funding gap
IMF MD Georgieva stated that the IMF and Egypt have resolved all “big policy issues” during discussions on the upcoming new loan program, and are scheduled to meet again on Saturday
The Annual Meetings take place in Washington, D.C., between 10-16 October 2022.
