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FinancialNews
02-03-23
Egypt to propose nation’s possessions in either US Dollars or Egyptian Pound
(MENAFN) Egypt is going to deal with financers on a case-by-case basis considering the valuation of assets proposed for sale to be in either US Dollars or Egyptian Pound, in line with a news agency.
The decision of currency emerges as a massive barrier for Egypt as the nation tries to protect foreign exchange from its Gulf supporters to back the economy that is moving toward crisis because of the Russian attack on Ukraine.
Last week, the nation stopped discussions with Egypt after the purchase of the United Bank in Cairo throughout a talk on how to value the agreement because of the uncertainty of the Egyptian Pound.
Leader of the Egyptian Sovereign Fund Hala Al-Saeed asserted in a meeting in Qatar that there is going to be a deal among the administration and financiers on the currency choice for each contract.
Al-Saeed was part of a delegation going on a trip to Doha for a campaign to unlock possible investment chances from Gulf states.
MENAFN02032023000045014228ID1105689931
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