IMF Considers Expanding Egypt's Loan Program Amid Gaza War Devastation

The International Monetary Fund (IMF) is considering increasing Egypt's $3 billion loan program due to the economic impact of the Israel-Gaza war. The war has caused economic difficulties for Egypt, including increased bills for wheat and oil and a decline in tourism. The IMF had previously agreed to grant Cairo the loan, which includes policies to promote private sector growth. The war has also had severe impacts on the economies of the West Bank, Lebanon, and Jordan. At the Asia-Pacific Economic Cooperation (APEC) Summit, leaders remained divided over the Gaza crisis, with some objecting to discussing geopolitical issues at the forum.