Xinhua world economic news summary at 0900 GMT, June 23

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WASHINGTON -- The U.S. economy is expected to grow more slowly than people had hoped months ago as the country cannot stop the community spread of COVID-19, a senior U.S. Federal Reserve official said on Monday.

"Some of the better economic data we've been getting has reflected the fact that those places are opening up, but they may not be opening up as safely as they need to," said Eric Rosengren, president of Federal Reserve Bank of Boston, in an interview with Yahoo Finance. (US Economy-COVID-19)

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CAIRO -- The European Bank for Reconstruction and Development (EBRD) said on Monday that it will provide loans worth 200 million U.S. dollars for the National Bank of Egypt (NBE) to facilitate trade and help Egyptian companies impacted by the COVID-19 pandemic.

According to a statement by EBRD, a loan worth 100 million dollars will be provided to enable the NBE to offer short-term loans to the country's private small and medium-sized companies facing liquidity problems caused by the pandemic crisis. (Egypt-Loan-European Bank)

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ROME -- Governor of the Bank of Italy Ignazio Visco on Monday called for a "well-constructed plan" to relaunch the economy, one that balances long-term and short-term goals.

Visco spoke at an event featuring the release of the Bank of Italy's annual report, and a day after Italian Prime Minister Giuseppe Conte concluded eight days of high-level economic consultations with an eye towards finalizing a comprehensive economic strategy by September. (Italy-Bank-Economy)

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RABAT -- Morocco's net foreign exchange reserves amounted to 31.1 billion U.S. dollars by June 12, up 21.7 percent year on year, the central bank said in a report published Monday.

From June 11 to 17, the central bank injected 10.5 billion dollars in the financial market, while the local currency dirham appreciated by 0.79 percent against the euro and depreciated by 0.36 percent against the U.S. dollar, according to the report. (Morocco-Forex Reserves) Enditem

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