IMF Visits Egypt to Discuss $8 Billion Loan

Egypt is in talks with the International Monetary Fund (IMF) to extend the implementation of measures linked to its $8 billion loan program, rather than seeking additional funds, as confirmed by Prime Minister Mostafa Madbouly. An IMF delegation, led by Kristalina Georgieva, is scheduled to visit Cairo in early November to discuss social protection programs and gauge the impact of economic reforms on vulnerable populations amid regional challenges, including a decline in Suez Canal revenues due to terrorism. Meanwhile, in Romania, an IMF mission will visit Bucharest from November 5-8 to review the country's fiscal policy and update economic forecasts, as Romania faces a projected public deficit of 7.9% of GDP this year. The IMF has revised its growth forecast for Romania down to 1.9% for 2024, while also expecting a worsening current account deficit. Both nations are grappling with economic pressures, with Egypt focusing on reform implementation and Romania seeking to stabilize its financial situation without a current financing agreement with the IMF.