World Courant
The director of the Worldwide Financial Fund’s (IMF) Center East and Central Asia division, Jihad Azour, mentioned there was no hyperlink between the dimensions of the IMF’s mortgage to Egypt and the Gaza disaster.
Throughout an interview with Al Arabiya Enterprise on Sunday, Azour famous that the IMF program was established a few yr and two months in the past, and that the primary and second opinions befell earlier than the Gaza battle.
Azour added that there isn’t a doubt that Egypt and different nations have been economically affected by the present occasions, and that the chance has elevated.
Nevertheless, he assured that the dimensions of the mortgage is said to the financing hole and has nothing to do with political elements.
The UAE’s funding in Egypt is a crucial occasion, he mentioned, however is totally separate from the Fund’s discussions with Cairo.
“We’ve got not but seen the small print of the deal between the Emirates and Egypt,” he added.
“The discussions between Egypt and the IMF cowl financial reforms in Egypt, strengthening the position of the personal sector, activating the position of social safety and giving confidence to the financial system to maneuver it ahead.”
He identified that the pliability of the trade price is an important situation to guard the Egyptian financial system from exterior shocks, as there have been shocks which have affected the Egyptian financial system and different economies lately.
Azour mentioned this coverage will probably be accompanied by monetary measures to cut back inflation, which is now comparatively excessive in Egypt and is a widespread world drawback.
The IMF mortgage to Egypt isn’t associated to the Gaza disaster, an official assures
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