Banque Misr’s Mohamed El-Etreby says Egypt economy will re-emerge, overcome coronavirus impact

Mohamed El-Etreby, chairman of one of Egypt’s biggest banks – Banque Misr, said Thursday he is optimistic that Egypt’s economy will re-emerge and overcome the heavy blow by the coronavirus pandemic.

During a video conference, El-Etreby was fairly upbeat about the outlook for the Egyptian economy as he said the country will manage to recover quickly.

He referred to the increased confidence of the global financial institutions evidenced by the recent approval of the International Monetary Fund to secure nearly $2.8 billion rapid financing assistance to shield Egypt’s economy from the fallout of the pandemic.