Egypt Gets $2.77 Billion IMF Loan as Coronavirus Hurts Economy

Elvera Bartels

LONDON—The Intercontinental Financial Fund accepted a $two.77 billion personal loan to Egypt in an try to prevent financial collapse in the Middle East’s most populous country amid the coronavirus pandemic.

The personal loan approval Monday will come as the IMF commences to bail out a swath of nationwide economies that have been devastated by the sickness. Far more than 90 international locations, or almost fifty percent the international total, have inquired about achievable IMF funding since the pandemic commenced.

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