IMF: Talks to Increase Egypt's Loan Program Nearing Completion

The Executive Director of the International Monetary Fund, Kristalina Georgieva, indicated on Thursday that the IMF and Egypt are in the "final stage" of negotiations to increase the $3 billion loan program to alleviate pressures arising from the war in Gaza. Georgieva added to reporters at the fund's headquarters in Washington that the negotiating mission has been extended to Cairo to outline the details of implementing the reforms agreed upon by Egypt, including the central bank's gradual move to target inflation through adjusting monetary policy.