$10 Billions Get out Legally in Egypt

Officials of the Central Bank of Egypt (CBE) revealed the method by which the 10 billion dollars get out of Egypt after January 25th revolution. This came after the statement of Prime Minister Kamal el-Ganzouri before the People's Assembly on 26/2/2012.The Officials stressed that these funds are transfers of foreign and Arab investors to their headquarters in their countries after the sale of shares on the stock exchange or liquidation of their projects in Egypt after the revolution.

They pointed out that these transactions are conducted lawfully and legally in the framework of an agreement to ensure foreign investment. This agreement is an international agreement commits the banks operating in Egypt to convert these amounts to the outside, provided that these banks notify the CBE by the value of transactions.

Officials pointed out that the CBE forecast was referring that the volume of such transfers can reach $ 18 billion, but the confidence was good to a great extent in the Egyptian economy. This confidence confirms the possibility of recovery of the Egyptian economy in a period of 3 months if security stability in particular was achieved.