No third flotation of the Egyptian pound: economist

No third flotation of the Egyptian pound: economist

Economist Mostafa Badra denied a third flotation of the Egyptian pound.

Badra revealed the details of Egypt obtaining a US$3 billion loan from the International Monetary Fund, stressing that Egypt had no alternative.

Badra said, during an interview with TV presenter Ahmed Moussa, on Sada al-Balad channel, on Sunday, that Egypt had no alternative to resorting to the International Monetary Fund.

This is in light of global challenges and high interest rates.

Granting Egypt a financial package will help improve the lives of citizens and complete the development plans.

It is clear that the prolongation of the Russian-Ukrainian crisis will cause the global economic crisis to worsen further.

The world will witness a severe global economic crisis, and if some of Ukraine’s nuclear reactors were targeted, prices would rise by ten or 20 times the current price value.

Barada said that the consequences of the Russian-Ukrainian war will continue for some time, and the financial crisis and the rise in the price of the dollar will affect all countries.

The rise in freight prices will cause an increase in commodity prices.

Barada confirmed that the IMF had postponed its approval of granting Tunisia a loan due to legislative elections in Tunisia.

Pointing out that the absence of stability in the