IMF Managing Director: "US-China Summit Sends Signal of Cooperation Needed to the World"

"Considering Expansion of $3 Billion Loan Program for Egypt"

Kristalina Georgieva, Managing Director of the International Monetary Fund (IMF), evaluated the recent US-China summit held on the 17th (local time) as sending a signal to the world about the necessity of cooperation.

At the Asia-Pacific Economic Cooperation (APEC) summit in San Francisco, USA, Georgieva met with major foreign media and commented on the outcome of the US-China summit, saying, "It sent a signal to the world that we must find ways to cooperate on challenges that no country can overcome alone."

She described it as "an important meeting at a time when geopolitical divisions are deepening and negatively affecting growth."

She also added that the summit confirmed positive signals regarding cooperation on climate change response.

On the 15th, the US and China agreed at the summit in San Francisco to restore military communication channels that had been cut off due to deteriorating relations. They also agreed on the importance of cooperation on challenges such as drug enforcement, climate change response, and artificial intelligence regulation.

Kristalina Georgieva, Managing Director of the International Monetary Fund (IMF)
[Photo by Yonhap News]

Georgieva also hinted at the possibility of increased support for Egypt due to the war between Israel and the Palestinian armed group Hamas.

She stated, "We are seriously considering expanding a $3 billion loan program for Egypt, which is experiencing economic difficulties due to the war."

While noting that the recent rise in international oil prices has not been sustained, she assessed that the impact of this war on the global economy will be "very limited," but expressed concern that if the war prolongs or accidents occur, the impact could increase.