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IMF could augment Egypt\u2019s loan programme over effects of Gaza war | Israel-Palestine conflict News<\/p>\n
Managing Director Kristalina Georgieva says the Israel-Gaza war has had an economic impact on neighbouring countries.<\/em><\/p>\n<\/div>\n The International Monetary Fund is seeking to increase Egypt\u2019s loan programme due to the effects of the war in neighbouring Gaza, according to a Reuters report.<\/p>\n Managing Director Kristalina Georgieva told Reuters on Friday that the IMF was \u201cseriously considering\u201d a possible augmentation of Egypt\u2019s $3bn loan programme due to economic difficulties posed by the Israel-Gaza war.<\/p>\n Egypt began seeking a new IMF loan after Russia\u2019s war in Ukraine pushed up its bills for wheat and oil while dealing a blow to tourism from two of its largest markets, Ukraine and Russia.<\/p>\n In October last year, the IMF agreed to grant Cairo the loan, adding that the loan programme would include \u201cpolicies to unleash private sector growth including by reducing the state footprint, adopting a more robust competition framework, enhancing transparency, and ensuring improved trade facilitation\u201d.<\/p>\n Georgieva\u2019s comments came in an interview on the sidelines of the Asia-Pacific Economic Cooperation (APEC) Summit in San Francisco.<\/p>\n She expressed that the war in Gaza is not only \u201cdevastating\u201d the besieged Strip\u2019s population and economy, but also has \u201csevere impacts\u201d on the West Bank\u2019s economy and is also posing difficulties for neighbouring countries like Egypt, Lebanon and Jordan through the loss of tourism and higher energy costs.<\/p>\n At the APEC summit, the 21 members, including the United States, China and Russia, remained divided over the war on Gaza.<\/p>\n A statement issued by this year\u2019s APEC chair, the United States, said the leaders exchanged views on the Gaza crisis, with some objecting to the language of the chair\u2019s statement in an accompanying \u201cGolden Gate Declaration\u201d covering economic issues \u201con the basis that they do not believe that APEC is a forum to discuss geopolitical issues\u201d.<\/p>\n Some APEC leaders shared the united messages of the November 11 joint Arab-Islamic summit in Riyadh, the chair\u2019s statement said.<\/p>\n Brunei, Indonesia and Malaysia in a joint statement said they were among the APEC leaders who supported the messages of the Riyadh summit, which had called for an immediate end to military operations in Gaza, rejecting Israel\u2019s justification of its actions against Palestinians as self-defence.<\/p>\n<\/div>\n \u0627\u0644\u0645\u0635\u062f\u0631<\/a>
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