In recent years, the IMF has worked closely with Egypt to make policy changes to promote their economy. Although still in conversation for new policy, economic reform programs, and loans: Egypt previously received a $3 billion loan that is near completion. In response to the positive effects of this loan, the IMF intends to assist Egypt further. The IMF is monitoring the recent impacts of Israel's war on Palestine on the Suez Canal trade routes and surrounding economies.
I believe that the IMF is making the right move. Rather than allowing an influx of refugees to backtrack the recent progress of the Egyptian economy, they are working proactively to assist Egypt and create a plan to take advantage of their changing economic landscape.
https://www.middleeastmonitor.com/20240223-imf-seeks-to-boost-egypt-ahead-of-possible-entry-of-gaza-refugees//
https://www.reuters.com/world/africa/imf-egypt-agree-main-policy-elements-economic-reform-programme-2024-02-02/
4 comments:
I wonder what impact the influx of refugees will have on Egypt's economy in the long run, clearly the IMF thinks it will be negative in terms of GDP for 2024 but there could be potential benefits in the future.
i agree with Zach, It will be interesting to see how Egypt's economy is affected by the refugees. this could have some benefits for egypt such as increased workforce as well as more foreign aid which could be used for development
promising news because not only will it lessen any harmful impact on the Egyptian economy, but it will also allow Egypt to take in more Palestinian refugees. I'm also curious what effects the broader economic decline due to the Israelis military campaign will have on Israel's relationship with neighboring states. For a while, neighboring nations had begrudgingly allowed mistreatment of Palestinians in exchange for aid from Israel, but if Israel's military actions cause too much economic turmoil in these countries, they may be forced to intervene
It will be interesting to see if America gets an uptick in refugees from these Middle Eastern Countries that are being swept out.
Post a Comment