Egypt in IMF Talks on Possible Funding Amid War Pressures
- Non-financial agreement also seen as possible for Arab nation
- Ukraine conflict may curb tourism, increase food import bill
People buy bread from the window of a bakery in Cairo.
Photographer: Shawn Baldwin/Bloomberg
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Egypt is in talks with the International Monetary Fund on possible support that could include a loan, as shockwaves from the war in Ukraine add pressure on the North African country’s economy.
The discussions are looking at several options including a so-called precautionary and liquidity line -- credit that can be tapped if needed -- or another form of financial assistance, according to people familiar with the matter. They asked not to be identified as the talks are confidential.