CBE deputy governor: New IMF loan not to add burdens to people – Egypttoday

CBE deputy governor: New IMF loan not to add burdens to people – Egypttoday

CBE deputy governor: New IMF loan not to add burdens to people. CAIRO - 14 May 2020: Deputy Governor of the Central Bank of Egypt (CBE) Rami Abul Naga said on Thursday that the new loan which Egypt will obtain from the International Monetary Fund (IMF) will not require additional economic reforms or add more burdens on people.. During a phone call with media personality Ahmed Moussa on Sada El Balad TV Channel, he said the economic reform program which Egypt put into effect in 2016 managed to create a strong economy capable of containing crises.. The CBE injected more than LE 0.5 trillion to secure needed financial liquidity for the market and support productive state sectors, such as the industrial, agricultural, real estate and tourism sectors, he said, noting that this has helped in easing the repercussions of the coronavirus crisis.. Egypt's economic indicators were very good until mid March and if it had not been for the coronavirus crisis, it would have witnessed a remarkable economic growth, he noted.. The 2.8-billion-dollar emergency financial package provided by the IMF to the Egyptian government attests to the achievements realized under the economic reform program which led to high growth rates