Egypt’s Mursi Rules Out Devaluation of Pound, Reuters Says

Egypt has no plans to devalue its currency and will rely on investment, tourism and exports to help revive the country’s economy, President Mohamed Mursi said in an interview with Reuters.

Asked whether the government had given any thought to devaluing the currency, an issue that has been raised by economists as it seeks a $4.8 billion International Monetary Fund loan, Mursi said: “No. Definitely not. That’s completely out of the question.”

To contact the reporters on this story: Tarek El-Tablawy in Cairo at teltablawy@bloomberg.net;

To contact the editor responsible for this story: Andrew J. Barden at barden@bloomberg.net

Bloomberg reserves the right to edit or remove comments but is under no obligation to do so, or to explain individual moderation decisions.

Please enable JavaScript to view the comments powered by Disqus.