June 13, 2024


Managing Director Kristalina Georgieva says the Israel-Gaza war has had an economic impact on neighbouring countries.

The International Monetary Fund is seeking to increase Egypt’s loan programme due to the effects of the war in neighbouring Gaza, according to a Reuters report.

Managing Director Kristalina Georgieva told Reuters on Friday that the IMF was “seriously considering” a possible augmentation of Egypt’s $3bn loan programme due to economic difficulties posed by the Israel-Gaza war.

Egypt began seeking a new IMF loan after Russia’s war in Ukraine pushed up its bills for wheat and oil while dealing a blow to tourism from two of its largest markets, Ukraine and Russia.

In October last year, the IMF agreed to grant Cairo the loan, adding that the loan programme would include “policies to unleash private sector growth including by reducing the state footprint, adopting a more robust competition framework, enhancing transparency, and ensuring improved trade facilitation”.

Georgieva’s comments came in an interview on the sidelines of the Asia-Pacific Economic Cooperation (APEC) Summit in San Francisco.

She expressed that the war in Gaza is not only “devastating” the besieged Strip’s population and economy, but also has “severe impacts” on the West Bank’s economy and is also posing difficulties for neighbouring countries like Egypt, Lebanon and Jordan through the loss of tourism and higher energy costs.

At the APEC summit, the 21 members, including the United States, China and Russia, remained divided over the war on Gaza.

A statement issued by this year’s APEC chair, the United States, said the leaders exchanged views on the Gaza crisis, with some objecting to the language of the chair’s statement in an accompanying “Golden Gate Declaration” covering economic issues “on the basis that they do not believe that APEC is a forum to discuss geopolitical issues”.

Some APEC leaders shared the united messages of the November 11 joint Arab-Islamic summit in Riyadh, the chair’s statement said.

Brunei, Indonesia and Malaysia in a joint statement said they were among the APEC leaders who supported the messages of the Riyadh summit, which had called for an immediate end to military operations in Gaza, rejecting Israel’s justification of its actions against Palestinians as self-defence.


Source link

Leave a Reply

Your email address will not be published. Required fields are marked *

Batman138 Bro138 Dolar138 Gas138 Gudang138 Hoki99 Ligaciputra Panen77 Zeus138 Kilat77 Planet88 Gaspol168 Sikat88 Rupiah138 Garuda138 Gacor77 Roma77 Sensa138 Panen138 Slot138 Gaco88 Elanggame Candy99 Cair77 Max7 Best188 Space77 Sky77 Luxury777 Maxwin138 Bosswin168 Cocol88 Slot5000 Babe138 Luxury138 Jet77 Bonanza138 Bos88 Aquaslot Taktik88 Lord88 Indobet Slot69 Paus138 Tiktok88 Panengg Bingo4d Stars77 77dragon Warung168 Receh88 Online138 Tambang88 Asia77 Klik4d Bdslot88 Gajah138 Bigwin138 Markas138 Yuk69 Emas168 Key4d Harta138  Gopek178 Imbaslot Imbajp Deluna4d Luxury333 Pentaslot Luxury111 Cair77 Gboslot Pandora188 Olxtoto Slotvip Eslot Kuy138 Imbagacor Bimabet