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.”

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