Arab Finance: US Treasury Secretary Janet Yellen has pledged unwavering support for Egypt's economy and ongoing reforms, Reuters reported.
The commitment was made following high-level talks held in Washington on Tuesday, January 9th, between Yellen, Egyptian Minister of Finance Mohamed Maait, and Governor of Central Bank of Egypt (CBE) Hassan Abdalla.
The discussions centered around the expansion of Egypt's $3 billion loan program with International Monetary Fund (IMF), as the country grapples with the economic fallout from the Israel-Gaza war.
She emphasized the need to encourage equitable, sustainable growth and strengthen Egypt's economy.
Along with talking about regional issues, Yellen acknowledged Egypt's efforts as well as the difficulties that Gaza conflict has placed Egypt's economy in.
The Egyptian delegation also met with IMF Managing Director Kristalina Georgieva during their visit to Washington.
In December, Bloomberg reported that Egypt was close to expanding its $3 billion loan program with the IMF to around $6 billion.