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FINANCIAL NEWS
IMF welcomes Egypt’s decision to floatcurrency
04 Nov 2016
(MENAFN) The International Monetary Fund (IMF) welcomed in a statement Egypt’s decision to float its pound currency on Thursday.
According to the statement, it said: “We welcome the Central Bank of Egypt’s decision to liberalize the foreign exchange system and adopt a flexible exchange rate regime.”
Also: “The flexible exchange rate will improve Egypt’s external competitiveness, support exports and tourism and attract foreign investment.”
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