Cairo – Mubasher: Egypt requested a one-year financial assistance from the International Monetary Fund (IMF) to help mitigate the impact of the coronavirus (COVID-19) on economy, prime minister Mostafa Madbouly said in a press conference on Sunday.
The loan will be extended under the IMF’s rapid financing instrument (RFI) and stand-by arrangement (SBA), IMF’s managing director Kristalina Georgieva pointed out in a statement.
Georgieva expected “the request for the RFI to be presented to the IMF’s Executive Board within the next few weeks.”
The number of COVID-19 cases in Egypt reached 4,534 following the detection of 215 new cases, the Ministry of Health said in a statement late on Sunday.
The ministry also reported 10 new deaths, bringing the toll to 317. The total number of recoveries amounted to 1,176.
