Poverty-ridden Egypt holds out hand for IMF virus aid - News Summed Up

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Poverty-ridden Egypt holds out hand for IMF virus aid


This March 19, 2020 photo, shows an empty road leading to departures at the Cairo International Airport during a travel ban due to the coronavirus outbreak, in Cairo, Egypt. Neither Egypt nor the IMF specified the size of the one-year bailout loan, which Prime Minister Mustafa Madbouly said would include "a financial package alongside technical support.'' Egypt secured a US$12 billion bailout package from the IMF in 2016. Egypt has allocated 100 billion Egyptian pounds (over US$63.5 million) to overcoming the virus and its effects. Egypt, the Arab world's most populous country, has more than 4,500 coronavirus cases, including dozens of foreigners, and at least 317 deaths.-AP


Source: The Standard April 27, 2020 02:37 UTC



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