Egypt central bank governor says foreigners can repatriate profits soon

Reuters , Friday 13 Jan 2017

Tarek Amer
Governor of Egypt's central bank Tarek Amer (File photo: Reuters)

The governor of the Central Bank of Egypt (CBE) said on Friday that foreign investors would be able to repatriate profits and capital "in the coming period" now that the country's foreign reserves had recovered, state news agency MENA reported.

Speaking at a conference held by investment bank EFG Hermes, Tarek Amer said the banking sector had secured inflows of between $7.5 billion and $8 billion since the CBE floated the Egyptian pound on 3 November.

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