RIYADH: Egypt is currently in talks with the International Monetary Fund over a potential loan as pressures on the economy mount due to the Ukrainian war, Bloomberg reported citing people familiar with the matter.
Several options including a so-called precautionary and liquidity line, credit that can be tapped if needed, and a non-financial agreement such as a so-called policy coordination instrument are being considered in the discussions.
This comes amid soaring commodity and energy prices in the North African country, coupled with a global monetary tightening, adding further pressure on the economy.