Egypt Daily News- Kristalina Georgieva, Director of the International Monetary Fund, said that the Egyptian government may necessarily need to intervene in some cases in the exchange rate of the pound, according to CNBC Arabia.

She explained that according to the agreement between the Fund and the Egyptian government, the government can intervene in the exchange market when there is a need to support the pound, and they have room to do so, adding, “We hope that they will not use this room unnecessarily.”

Georgieva stressed her optimism about the Egyptian economy, saying: “I am optimistic about the state of the Egyptian economy because the Egyptian government, the Central Bank Governor, and the Ministry of Finance are working to increase Egypt’s attractiveness with foreign investors.”