Economics
Egypt Sees More Pound Volatility After Repatriation Fund Ends
- Governor: Egypt has enough reserves to fend off speculators
- Central bank chief Tarek Amer speaks in an interview in Cairo
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Egypt’s stagnant exchange rate is likely to see more movement after a system that guaranteed foreign investors could repatriate dollars was terminated, but the central bank stands ready to fend off speculators and ensure debt holders don’t lose out, Governor Tarek Amer said.
Amer’s remarks could help reassure foreign investors scrutinizing Egypt’s economic policy as the country wraps up a three-year, $12 billion economic overhaul agreement with the International Monetary Fund this year.