CBE governor says foreign investors will be able to repatriate profits soon - MENA

Friday 13-01-2017 05:14 PM

Central Bank Governor Tarek Amer. Photo from Al-Ahram

CAIRO, Jan 13 (Aswat Masriya) - Egypt's central bank governor assured foreign investors on Friday that they  will be able to repatriate their profits and capitals outside of Egypt in the coming period.

Tarek Amer said during a press conference organised by EFG Hermes that the banking sector in Egypt recorded inflows between $7.5-8 billion since the flotation of the pound, reported state-run MENA news agency.

The central bank floated the Egyptian pound, reducing its value by almost 50% against the dollar in November.

Foreign investors faced difficulties repatriating their funds from Egypt due to foreign currency shortage.

Egypt's foreign reserves reached $24.265 billion at the end of December, up from $23.058 billion in November and $19.041 billion in October. 


facebook comments