IMF Says Has $5.2 Billion On Stand-by To Help Egypt Fight COVID-19
Sumaira FH Published June 06, 2020 | 02:00 AM
WASHINGTON (UrduPoint News / Sputnik - 06th June, 2020) The International Monetary Fund (IMF) said it has $5.2 billion on stand-by to help Egypt address the coronavirus (COVID-19) pandemic.
"The Egyptian authorities and the IMF team have reached staff-level agreement on economic policies that could be supported by a 12-month Stand-By Arrangement (SBA)," the fund said in a statement on Friday. "The SBA, with requested access of SDR 3.
8 billion (equivalent to around US$5.2 billion), supports the authorities' efforts to maintain macroeconomic stability amid the COVID-19 shock while continuing to advance key structural reforms."
The IMF said the stand-by funding was subject to approval by its executive board, which will consider Egypt's request in the coming weeks.
Egypt has reported more than 31,000 cases of COVID-19 and nearly 1,200 deaths from the pandemic.
Recent Stories
Walker returns to captain Man City for Real Madrid clash
Action taken against price list violations in Khanewal district
DC chairs review meeting of DEG
Turkey accuses Israel's Netanyahu of using war 'to stay in power'
Pakistan ranked 5th most vulnerable country to climate change. Tirmizi
Nadal comeback ends in Barcelona Open second round
Divisions among Colombia's FARC dissidents complicate peace talks
Govt to ensure timely water supply in backward areas of Sindh: Jam Shoro
Croatia ruling conservatives win most seats, but not majority: exit poll
Meta shouldn't force users to pay for data protection: EU watchdog
US university cancels Muslim student's graduation speech after pro-Israel groups ..
Bilawal condemns attack on PPP candidate in Bajaur
More Stories From World
-
Turkey accuses Israel's Netanyahu of using war 'to stay in power'
5 minutes ago -
Pakistan ranked 5th most vulnerable country to climate change. Tirmizi
15 minutes ago -
Divisions among Colombia's FARC dissidents complicate peace talks
8 minutes ago -
Croatia ruling conservatives win most seats, but not majority: exit poll
8 minutes ago -
Meta shouldn't force users to pay for data protection: EU watchdog
4 minutes ago -
US university cancels Muslim student's graduation speech after pro-Israel groups object, CAIR protes ..
4 minutes ago
-
House Republicans finally announce vote for $61 bn in Ukraine aid
4 minutes ago -
Ecuador tells workers to stay home amid energy crisis
4 minutes ago -
At IMF, Brazil and France renew push for 'fairer' international taxation
4 minutes ago -
Iran sanctions, Ukraine on agenda at G7 meet in Capri
43 minutes ago -
Thousands rally in Georgia as MPs advance controversial 'foreign influence' law
43 minutes ago -
Croatia votes in high numbers after bitter PM-president fight
1 hour ago