Cairo – Mubasher: Total foreign holdings of Egypt’s debt instruments amounted to $38 billion since the libralisation of the exchange rate, governor of the Central Bank of Egypt (CBE) said.
The currency swap agreement with China will be renewed in December, Enterprise reported, citing Tarek Amer as saying.
The CBE has arranged the first tranche of the economic reform programme’s $5.7 billion financing, including $2.62 billion from the currency swap agreement with the Chinese central bank signed in December 2016, $2 billion from international bonds, and $1 billion from the UAE, he highlighted.
Amer stressed that the central bank has succeeded in raising $26 billion that are being traded within the banking system, noting that the exchange rate has been stable for two consecutive years.
