US ambassador in Cairo Jonathan Cohen has welcomed the International Monetary Fund (IMF) $2.77bn emergency virus loan for Egypt, reiterating his country's continuous support for Egypt's economy.
"We welcome the International Monetary Fund (IMF)'s approval of almost $2.8 billion Rapid Financing Instrument to support Egypt’s balance of payment needs during this worldwide period of economic uncertainty," the ambassador said in a statement.
'The United States supported Egypt's request and will continue to partner with Egypt to support the country's economic development," the statement read.
It is worth mentioning that, Egypt has received $2.77 billion in emergency financing from the IMF, the state news agency reported on Tuesday, citing a senior central bank source.
The IMF had approved the funds on Monday in an effort to help Egypt to contend with the new coronavirus pandemic that has brought tourism to a standstill and triggered capital flight.
Coronavirus in Egypt
Egypt has so far registered 10093 Coronavirus cases, including 544 deaths.
The Health Ministry has stepped up precautionary measures in the affected governorates and intensified campaigns to spread awareness about infectious diseases.
Moreover, it raises its preparedness at all the country’s ports and airports to monitor the virus developments, receiving inquires from citizens about the virus through its hotline 105 or 15335.
The World Health Organization (WHO) declared COVID-19 a global pandemic as the new virus has rapidly spread from Asia to the Middle East, Europe, and the United States.
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