IMF chief says already engaged with Egypt to safeguard vulnerable people, businesses

International Monetary Fund’s (IMF) Managing Director Kristalina Georgieva said the fund is already engaged in discussion with Egypt on how to “target vulnerable populations and vulnerable businesses.”

Speaking at a media roundtable on Thursday, Georgieva said the sustained high food and energy prices from fallout from Russia’s invasion of Ukraine are going to impact people in Egypt.

“I worry for Egypt. If we have a sustained high food and energy prices, how this is going to impact people in Egypt. And in that sense, we are already engaged in discussion with Egypt on how to target vulnerable populations and vulnerable businesses.” stated Georgieva.

The IMF official added that the ongoing war would also affect the countries that are relying on tourism, particularly with the Ukraine and Russian tourists being a big part.

“Four, for the countries that are relying on tourism, Ukrainian Russian tourists were a big part. Think of Egypt, for example, now they’re going to be hit.” Georgieva noted.