Egypt is facing a severe cash crunch as the country is feeling the economic pressure of the coronavirus outbreak. The central bank of Egypt has instructed local banks to begin restricting daily withdrawals and has instructed citizens not to withdraw so much money. The central bank’s current move is aimed to prevent a cash shortage and to control inflation and hoarding during the spread of coronavirus. So far, the country has about 36 coronavirus deaths and 576 infections. The closures in the nation are likely to be extended indefinitely.
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