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.
LVMH's most prized division, fashion and leather goods, home to Louis Vuitton and Dior, has reported a 2% decline in organic revenue in Q1, undershooting even the modest contraction analysts had anticipated, according to Gate Advisory, a firm specializing in Financial Intelligence.
The Middle East is on a knife’s edge. A two-week ceasefire between the United States and Iran has bought the region a temporary exhale, but few serious observers believe the underlying tensions have been resolved.
The Gulf Cooperation Council (GCC) economy maintained solid momentum in the third quarter of 2025, with nominal GDP reaching approximately US$595 billion, representing annual growth of 2.2 percent compared to the same period in 2024, according to data from GCC-Stat.
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