In this file photo an exterior view of the building of the International Monetary Fund , with the IMG logo, is seen on March 27, 2020 in Washington, DC. Olivier DOULIERY / AFPThe IMF board approved $2.77 billion in emergency aid for Egypt on Monday, to help the country deal with the impact of the coronavirus pandemic, but said the government will need more financial help.
The emergency funding will help finance “targeted and temporary spending, aimed at containing and mitigating the economic impact of the pandemic,” First Deputy Managing Director Geoffrey Okamoto said. The emergency funds come from the Washington-based crisis lender’s Rapid Financing Instrument, which has been ramped up to get aid quickly to developing nations most vulnerable to the economic effects of shutdowns to contain the outbreak.
Egypt has suffered over 500 COVID-19 fatalities with nearly 10,000 cases, according to John’s Hopkins University’s tally.
Source: Loan Digest (loandigest.net)
Borrow borrow
Shey Africa can't just be borrowing from one another? Like Africa bank or something
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