International Monetary Fund Managing Director Kristalina Georgieva told Reuters the Fund was "seriously considering" a possible augmentation of Egypt's $3 billion loan program.
Kristalina Georgieva © Mena Today
International Monetary Fund Managing Director Kristalina Georgieva told Reuters the Fund was "seriously considering" a possible augmentation of Egypt's $3 billion loan program due to economic difficulties posed by the Israel-Hamas war.
Georgieva told Reuters in an interview on the sidelines of the Asia Pacific Economic Cooperation Summit that the conflict is "devastating" Gaza's population and economy and has "severe impacts" on the West Bank's economy and is also posing difficulties for neighboring countries Egypt, Lebanon and Jordan through the loss of tourism and higher energy costs.
Israel will not allow a planned meeting in the Palestinian administrative capital of Ramallah, in the occupied West Bank, to go ahead, an Israeli official said on Saturday, after media reported that Arab ministers planning to attend had been stopped from coming.
At a time when many advanced economies are grappling with persistent inflation, sluggish growth, and geopolitical uncertainty, Israel has emerged as a striking case of resilience and recovery.
Hong Kong and Saudi Arabia are considering allowing more cross-border financial products, authorities said on Thursday, as the two markets seek to deepen financial ties amid rising trade uncertainties.
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