IMF Says Egypt Has Built Buffers to Tackle Shocks as Pound Gains

The International Monetary Fund said Egypt’s economic reforms and stronger buffers are enabling the country to better weather external shocks, as the local pound reverses some losses after the Iran war ceasefire.

The North African nation has learned from the experience of the 2022 outbreak of the Russia-Ukraine war and its inflationary impact, Jihad Azour, director of the Middle East and Central Asia department at the IMF, said in an interview in Washington.