Six years after inking a landmark assistance deal with the IMF, Egypt has returned for the third time in two years as the country looks to mitigate the impact of the war in Ukraine on commodity prices as well as potential loss of tourism revenues.
“The rapidly changing global environment and spillovers related to the war in Ukraine are posing important challenges for countries around the world, including Egypt,” the IMF’s mission chief for Egypt, Celine Allard said in a short statement on 23 March. Within that context, she added, Cairo has requested the IMF’s support, although the amount which will be provided has yet to be decided. (CONTINUED - 742 WORDS)
