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Article: Banks have been instructed to play a role in restricting imports so as to conserve foreign exchange, the Central Bank of Egypt announced on 19 November. (Economy).(Brief Article)
- Article from:
- MEED Middle East Economic Digest
- Article date:
- November 30, 2001
CopyrightCOPYRIGHT 2001 MEED Middle East Economic Digest. All Rights Reserved. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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* Egypt Banks have been instructed to play a role in restricting imports so as to conserve foreign exchange, the Central Bank of Egypt announced on 19 November. Newly appointed governor Mahmoud Abul-Ayoun discussed the new arrangements with executives from 63 commercial banks before the announcement. He emphasised that banks should make available foreign exchange for all imports associated with domestic production. However, he said there should be a three-month moratorium on financing imports ...