Pre-Trading Thoughts

In contrast to the IMF’s talk of being open to changing some of the terms of the loan agreement, Georgieva reiterated that “Egypt is better served by undertaking reforms sooner rather than later.” IMF Director Kristalina Georgieva stated that the Fund’s amendment to the basic and additional fees for programs and loans will save Egypt USD800 million up to 2030. Investment Minister Hassan El Khaitb will now be minister in charge of the Sovereign Fund of Egypt (SFE). The Green Climate Fund...