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.
The Democratic Republic of Congo (DRC) has agreed to ship copper to Saudi Arabia and the United Arab Emirates under a new, US-backed partnership aimed at weakening China’s grip on global supplies of critical minerals.
Lebanon holds one of the largest gold reserves in the Middle East. Now, as the country sinks deeper into economic collapse, officials are quietly debating whether that stockpile could help stabilize a shattered financial system, a move that remains politically toxic and legally constrained.
Israel reopened the border between Gaza and Egypt on Monday for a limited number of people on foot, allowing a small number of Palestinians to leave the enclave and some of those who escaped the war to return for the first time.
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