Egypt Attracts $1bn Foreign Investments after Raising Interest RatesSource: www.export-egypt.com 5/29/2017, Location: Africa |
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 Egypt attracted one billion dollars in foreign investments after the decision of raising interest rates last week, Central Bank of Egypt (CBE) governor Tarek Amer said
Amer added that the CBE and the financial system received 448 million dollars and 400 million dollars and others will follow. The inflows are unprecedented and have never been registered in Egypt before, Amer stressed. The CBE decided to raise the overnight deposit rate, overnight lending rate, and the rate of the CBE main operation by 200 basis points to 16.75 per cent, 17.75 per cent, and 17.25 per cent, respectively. |
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