IMF Hails Egypt's Swift Measures In Response to COVID-19 Measures

The International Monetary Fund (IMF) has lauded the swift measures taken by Egypt to cushion the health and economic impacts of the coronavirus pandemic.

A total of $6.13 billion has been allocated by the Egyptian government to alleviate the impact of the pandemic, the IMF said in a research published on its website under the title "Social Spending for Inclusive Growth in the Middle East and Central Asia."

An approximate sum of $528 million has been allocated to support the healthcare sector, by providing immediate medical supplies and disbursing bonuses to medical staff working on the frontline of the COVID-19 crisis, the research said.

Monthly grants for three months totaling $93 (EGP 1,500) has been extended to day-laborers and irregular workers, and pensions increased by 14%, it added.

The research noted that targeted cash transfers were also set up to reach vulnerable families.

It also mentioned that Egypt increased education spending. Most of the social protection assistance was directed through cash transfer programs, and many countries have made effective use of technology in delivering these programs.