Egypt secures US$639m from Arab Monetary Fund to support economy amid unrelenting COVID-19 pandemic

EGYPT – The Government of Egypt has secured a US$639 million from the Arab Monetary Fund to help support its economy amid a crisis occasioned by the unrelenting COVID-19 pandemic. A report by Egypt Today revealed that the loan agreement was signed by Minister of International Cooperation, Rania Al-Mashat, and Chairman of the Fund Abdul Rahman bin Abdullah Al-Hamidi. The Arab Monetary Fund said that it is currently studying requests from a number of member states seeking to take advantage of its financial resources in order to ensure the provision…

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