The International Monetary Fund expects a decline in Egypt’s economy due to the impact of the COVID-19 pandemic on the North African country. “With the global economy in recession and domestic activity curtailed, growth is expected to significantly decline. “Before the pandemic, growth was above 5 percent, international reserves were comfortable, and debt was on a downward trajectory. As the world continues its battle against COVID-19, focus ha shifted to the search and development of a vaccine. “We need leaders to make these hard decisions about distributing based on equity, not just on market-driven factors,” he added.

Source: The North Africa Journal July 11, 2020 15:22 UTC