Turkish Lira Hits Record Low as Political Turmoil Intensifies
The Turkish lira hit a record low amid rising political turmoil, with markets reacting to Imamoglu’s detention and further central bank rate cuts.
Egypt has secured a $1.2 billion disbursement from the IMF, reinforcing its commitment to economic reform as part of an $8 billion support package.
Additionally, the country obtained $1.3 billion under the Resilience and Sustainability Facility (RSF), further boosting financial stability. T
hese funds come as Egypt continues to navigate economic challenges, including inflation and currency adjustments, while implementing reforms aimed at fostering long-term growth and resilience.
The IMF’s continued support reflects confidence in Egypt’s economic trajectory and reform progress.
