IMF approves $2.77 billion in emergency aid for Egypt after pandemic brings tourism to a standstill.

  • IMF said Egypt would need additional support from creditors “to close its remaining balance of payments gap”.
  • Egypt’s Health Ministry reported 346 new cases of the novel coronavirus on Monday, bringing the total number of confirmed cases to 9,746, including 533 deaths.
  • The outbreak has led to the shutdown of Egypt’s tourism sector, a key source of foreign revenue.
  • IMF says they are ready to provide further support if needed.