Egyptian president says large USD flows enable government to liberalize exchange rate

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Egyptian president says large USD flows enable government to liberalize exchange rate

STORY: Egyptian president says large USD flows enable government to liberalize exchange rate SHOOTING TIME: March 9, 2024 DATELINE: March 10, 2024 LENGTH: 00:01:39 LOCATION: Cairo CATEGORY: ECONOMY SHOTLIST: 1. various of the televised educational seminar (Courtesy of the Egyptian Presidency) STORYLINE: Egyptian President Abdel-Fattah al-Sisi said on Saturday that the government's decision to liberalize the exchange rate came after securing a large amount of U.S. dollars. There are large cash flows that will support the currency exchange market in Egypt, Sisi said during a televised educational seminar. He noted that around 45-50 billion dollars in new financing have been injected through the multibillion-dollar Ras Al-Hekma development investment deal with the United Arab Emirates, an eight-billion-dollar loan agreement with the International Monetary Fund and agreements with the European Union. "Things have begun to improve," Sisi said, adding that the cash available in Egypt enabled the gove

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