IMF Considers Augmenting Egypt's Loan Amid Gaza War Impacts

The conflict's devastating effects on Gaza and the West Bank, and its impact on neighbouring countries, prompt the IMF's consideration.

IMF is seriously considering increasing Egypt's $3bn loan programme due to economic difficulties posed by the Israel-Gaza war.
The war in Gaza is devastating the Strip's population and economy, and also severely impacting the West Bank's economy.
The conflict is causing difficulties for neighbouring countries like Egypt, Lebanon and Jordan through the loss of tourism and higher energy costs.
The IMF's decision comes in the context of the Asia-Pacific Economic Cooperation (APEC) Summit, where world leaders are divided over the war on Gaza.
IMF Managing Director Kristalina Georgieva highlights the importance of global cooperation, citing the recent meeting between U.S. President Joe Biden and Chinese President Xi Jinping as a positive signal.