CBE measures relieves coronavirus negative impacts says economist

CAIRO, April 11 (MENA) – The several measures taken by the Central Bank of Egypt (CBE) since the middle of March succeeded in relieving the negative impacts caused by the spread of coronavirus globally, economist Ahmed Abu Ali said Saturday.

Speaking to MENA, Abu Ali stressed that the Egyptian economy showed a resilience against the negative consequences of the spread of the coronavirus and the suspension of several economic activities.

The crises have always been a proof of the resilience of states and institutions in the face of challenges, topped by devising plans to overcome any future headwinds.

He praised CBE’s vision and capability of tackling different challenges, especially after building up the foreign currency reserves, which exceeded 45 billion dollars in three years.