Ms. Kristalina Georgieva, Executive Director of the International Monetary Fund, revealed her expectations regarding the price of the dollar in the coming period, during statements she made during her participation in the Qatar Economic Forum that was held in the capital, Doha.
Georgieva explained that expectations regarding the price of the dollar in the coming period indicate that it is unlikely that a rapid change will occur in the share of the United States of America in global reserves in the coming period, and she also denied the validity of the reports circulating about abandoning the dollar in the near future.
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The Executive Director of the International Monetary Fund confirmed that the strength of the dollar depends on the strength of the US economy and the stability of its financial markets, and in the event that Congress does not raise the maximum government debt of $ 31.4 trillion, the US government may face difficulties in paying its bills next month.
Georgieva added that it is expected that the US Federal Reserve will not cut interest rates before 2024.
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As for the Egyptians, they pay great attention to the movement of the US dollar and its impact on buying and selling operations in Egypt and its impact on prices, and despite the stability of the dollar rate in banks over the past three weeks, many people still care about the expectations of the dollar price in the coming days, The following is the explanation of the economist Rashad Abdo in the following lines.
Professor Rashad Abdo, a professor of economics at Cairo University, answered this inquiry, saying that one of the most important requirements of the International Monetary Fund is that the exchange rate of the Egyptian pound be flexible and determined based on the strength of supply and demand in Egypt, and the price of the dollar must rise in the event of an increase in demand for it. And to decrease in the event that the supply is greater than the demand, therefore, the decline in the price of the dollar globally will not affect much on its price in Egypt, as it is more affected by the movement of buying and selling operations and the pressure of demand on it.
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With regard to expectations of the price of the dollar in 2023 and the fate of the Egyptian pound, Abdo says that the price of the dollar in Egypt is expected to increase in the coming days, whether the increase takes place at once and is followed by stability, or a gradual increase by several piasters at a successive pace.
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