CAIRO – 27 April 2020: The Egyptian government and the Central Bank have requested a financial package from the International Monetary Fund (IMF), according to the Rapid Funding Tool program (RFI) and the SBA program.
Here are the goals behind this request according to the announced data:
- This package is to enhance the state’s capabilities to face the new COVID-19 virus crisis.
- It’s a proactive step based on the successful implementation of the economic reform program.
- To maintain the continuing gains and positive results achieved by the Egyptian economy, in light of the exceptional circumstances experienced by all countries of the world and developments in global conditions.
- It’s an important step in these current and exceptional circumstances.
- It also aims to continue to maintain the stability of the indicators of the Egyptian economy, as a precaution against any negative effects that may hinder its ability to recover and return to economic growth