CBE calls for financial support for developing countries

Hassan Abdullah, Governor of the Central Bank of Egypt (CBE) called for continued support from the World Bank and the International Monetary Fund (IMF) to finance efforts to combat the spread of the coronavirus in developing countries, and to extend the scope of this support to eliminate the spread of the virus once and for all, after the global economy has suffered heavy losses and a marked slowdown.

This came during his presidency of the plenary session of the Boards of Governors of the World Bank and the International Monetary Fund in Washington, DC., Friday.

The Governor of the Central Bank welcomed the convening of the session, saying that it testifies to the extraordinary collective will of the international community and its organizations, which made it possible to fight against a pandemic of such magnitude. .

He pointed out that when these meetings were interrupted three years ago, the world economy was subjected to multiple shocks, as the repercussions of the war in Ukraine and the continued spread of the pandemic affected the future. global economy and livelihoods, noting that all of these developments have created a new set of challenges and difficult trade-offs for policy makers and decision makers.

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