Egypt’s foreign exchange inflows hit $150bn since November 2016

Shaimaa Al-Aees
1 Min Read

Washington, DC- Foreign exchange flows received by the Central Bank of Egypt (CBE) since the flotation of the Egyptian pound since 3 November 2016 exceeded EGP 150bn, Governor of the CBE Tarek Amer said on Friday.

Amer added in an exclusive statement to Daily News Egypt on the sidelines of the International Monetary Fund’s (IMF) spring meetings in Washington that foreign exchange inflows consist of dollar bonds worth about $18bn, $88bn collected by banks from sale of foreign currency, treasury bills of about $26bn, and international loans, financing received by the banks, and deposits, including the Saudi deposit, amounting to about $3bn.

During his visit to the IMF as head of Egypt’s mission to the meetings, Amer said that the IMF’s programme has brought a positive and significant change to the Egyptian economy and that the whole world praises Egypt’s achievements in terms of economic reform, pointing out that the CBE has surpassed many countries in promoting entrepreneurship as well as small and medium enterprises (SMEs).

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