Foreigners can repatriate profits soon, says Egypt Central Bank governor

Banking sector had secured inflows of between $7.5 bln and $8 bln since the Egyptian pound was floated on Nov. 3.

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Central Bank of Egypt Governor Tarek Amer said on Friday that foreign investors would be able to repatriate profits and capital “in the coming period” now that the country’s foreign reserves had recovered, state news agency MENA reported.

Speaking at a conference held by investment bank EFG Hermes, Amer said the banking sector had secured inflows of between $7.5 billion and $8 billion since the Central Bank floated the Egyptian pound on Nov. 3.

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