IMF says has not received request from Egypt for new loan

The International Monetary Fund (IMF) has not received any financing request from Egypt, a senior IMF official told CNBC Arabia on Tuesday.

Egypt has not pursued a new IMF loan, said the Fund’s Middle East and Central Asia Department director Jihad Azour, urging the country to take precautions to grasp the implications of war and deal with the food security file.

The Russian war in Ukraine is having a significant economic toll for the region and the whole world, taking into consideration an impact on the staple commodities, including floor and wheat, Azour added.

Egypt’s fiscal policy should be having action plans that guard against unintended consequences and risks, the IMF official said.

The IMF is preparing a new growth forecast to upgrade its outlook for the region in the wake of the Ukrainian crisis, he noted.