Egypt is under new economic pressure following Russia's invasion of Ukraine, which prompted foreign investors to flee emerging markets.Egypt is under new economic pressure following Russia's invasion of Ukraine, which prompted foreign investors to flee emerging markets.
The new programme could entail additional IMF funding, an Egyptian Cabinet spokesperson said in a separate statement. “The rapidly changing global environment and spillovers related to the war in Ukraine are posing important challenges for countries around the world, including Egypt,” the IMF said.
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