Central Bank of Egypt (CBE) Governor Tarek Amer reviewed on Wednesday the government’s economic and financial structural reforms, including spending cuts, imbalance in the exchange rate, and developing export mechanisms and the capital market.
Amer pointed out that this helped the Egyptian economy to face several challenges, including the repercussions of the coronavirus pandemic.
This came during a meeting of the Governor of the Central Bank and Egypt’s ambassadors abroad; to help attract more foreign investments.
The meeting comes within the framework of the Ministry of Foreign Affairs’ keenness to continue coordination with the Central Bank and various state institutions to enhance the role played by Egyptian embassies and consulates abroad to attract foreign investments.
Amer pointed out that Egypt is keen to establish partnerships with international financial institutions and investment funds, which have become confident in the indicators of Egyptian economic performance in light of the economic success that has been achieved, especially during the pandemic.
He stressed the importance of coordination between the central bank and the Ministry of Foreign Affairs to attract more FDI into Egypt and open new markets for Egyptian exports.