Cairo – Mubasher: The International Monetary Fund’s (IMF) executive board will discuss Egypt’s request for a fresh funding under the rapid financing instrument (RFI) on Monday, 11 May, the board’s calendar showed.
In April, the most populous Arab nation asked for a financial support from the IMF to help mitigate the negative impact of the coronavirus (COVIID-19) outbreak on the economy.
The IMF is expected to approve $2.78 billion under the RFI and about $4 billion annually under the stand-by arrangement (SBA) to Egypt, Reuters reported, citing analysts and information on the IMF website.
It is noteworthy to mention that the Egyptian Ministry of Health reported 387 new coronavirus cases, bringing its total to 7,588.
