IMF official: Egypt's anti-COVID 19 measures decisive and support economy

Director of the Middle East and Central Asia Department at the International Monetary Fund (IMF) Jihad Azour said the measures taken by Egypt to curb the outbreak of novel coronavirus are decisive.

He added that these measures have been backed by a comprehensive stimulus package aimed at curbing the spread of the virus.

Azour added in a Thursday statement that the LE 100 billion stimulus package, announced by the government, has been meant to boost the national economy during the crisis.

He lauded the role of the Central Bank of Egypt in encouraging the economy by reducing the interest rate by 3 percent, providing necessary liquidity, setting restrictions on daily cash withdrawal and deposits and issuing high-yield savings certificates.