Egypt has asked for support from the IMF, the fund said, as the country struggles to weather the economic impact of Russia’s invasion on Ukraine.
Cairo is facing mounting pressures on its public finances as Moscow’s assault in Kyiv has sent grain prices soaring and increased the price of oil. Egypt is the world’s biggest wheat importer, is heavily reliant on supplies from Russia and Ukraine and has a subsidised bread programme which feeds 70mn people.
Its predicament underscores how the war is rippling into Arab and African states that rely on food and energy imports.
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