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.
Iran, a longtime backer of the Palestinian group Hamas, confirmed on Sunday evening that it has received an official invitation to attend the high-level Gaza peace summit scheduled for Monday in Sharm el-Sheikh, Egypt. However, the Islamic Republic has yet to announce whether it will participate.
On Monday, global attention will turn to Sharm el-Sheikh, as Egyptian President Abdel Fattah al-Sisi and U.S. President Donald Trump co-chair a high-level peace summit aimed at ending the war in Gaza.
On Monday, a high-profile summit for peace in Gaza will convene in Sharm el-Sheikh, co-chaired by Egyptian President Abdel Fattah al-Sisi and U.S. President Donald Trump.
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