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Egypt Sees More Pound Volatility After Repatriation Fund Ends
CAIRO (Capital Markets in Africa) – 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’seconomic policy as the country wraps up a three-year, $12 billion economic overhaul agreement with the International Monetary Fund this year….
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