{"id":1037255,"date":"2022-03-28T16:00:53","date_gmt":"2022-03-28T16:00:53","guid":{"rendered":"https:\/\/www.ghanamma.com\/2022\/03\/28\/egypt-requests-imf-support-as-economy-buffeted-by-ukraine-spillover\/"},"modified":"2022-03-28T16:00:53","modified_gmt":"2022-03-28T16:00:53","slug":"egypt-requests-imf-support-as-economy-buffeted-by-ukraine-spillover","status":"publish","type":"post","link":"https:\/\/www.ghanamma.com\/2022\/03\/28\/egypt-requests-imf-support-as-economy-buffeted-by-ukraine-spillover\/","title":{"rendered":"Egypt requests IMF support as economy buffeted by Ukraine spillover"},"content":{"rendered":"<p><\/p>\n<div>\n<p>Egypt has asked for the International Monetary Fund\u2019s support to implement a comprehensive economic programme, the IMF said on Wednesday.<\/p>\n<p>Continued exchange rate flexibility would be essential to absorb external shocks, it saidin a statement.<\/p>\n<p>The IMF is working closely with Egyptian authorities to prepare for discussions with a view to supporting sustainable, job-rich and inclusive growth, it added.<\/p>\n<p>The new programme could entail additional IMF funding, an Egyptian Cabinet spokesman said in a separate statement.<\/p>\n<p>Egypt is under new economic pressure following Russia\u2019s invasion of Ukraine, which prompted foreign investors to flee emerging markets.<\/p>\n<p>On Monday the government let the Egyptian pound depreciate by 14% after it had remained little changed since November 2020. On Wednesday, the currency appreciated slightly to 18.32 pounds to the dollar.<\/p>\n<p>Russia and Ukraine were the main exporters of wheat to Egypt \u2013 typically the world\u2019s top importer \u2013 and major sources of tourism.<\/p>\n<p>\u201cThe rapidly changing global environment and spillovers related to the war in Ukraine are posing important challenges for countries around the world, including Egypt,\u201d the IMF said.<\/p>\n<p>By Reuters<\/p>\n<p><!-- AI CONTENT END 2 -->\n\t<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Egypt has asked for the International Monetary Fund\u2019s support to implement a comprehensive economic programme, the IMF said on Wednesday. Continued exchange rate flexibility would be essential to absorb external shocks, it saidin a statement. The IMF is working closely with Egyptian authorities to prepare for discussions with a view to supporting sustainable, job-rich and [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":1037256,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[72],"tags":[6748,1963,1246,3074,6749,6750,115,5440],"class_list":["post-1037255","post","type-post","status-publish","format-standard","has-post-thumbnail","category-business","tag-buffeted","tag-economy","tag-egypt","tag-imf","tag-requests","tag-spillover","tag-support","tag-ukraine"],"_links":{"self":[{"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/posts\/1037255","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/comments?post=1037255"}],"version-history":[{"count":0,"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/posts\/1037255\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/media?parent=1037255"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/categories?post=1037255"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/tags?post=1037255"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}