Thursday 31 Oct
International Monetary Fund (IMF) Managing Director Kristalina Georgieva said that the Egyptian government may need to intervene in the Egyptian pound (EGP) movements in certain circumstances.
She emphasized
that the agreement between the IMF and the Egyptian government grants the
government the authority to intervene when necessary to support the EGP.
However, Georgieva stressed the importance of not misusing these powers.
In addition to her comments, Georgieva stressed, in press
statements, the need for the Saudi government to achieve balance between reserve
utilization and borrowing, taking into account the cost of borrowing and the
alternatives available for reserve utilization.
