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    دأحمد سعد سالم
    (1) The government decided to raise fuel prices to fully remove subsidies and deliver them to those entitled. (2) The Central Bank of Egypt decided to float the Egyptian pound and liberalize the dollar price to eliminate the black and parallel markets. (3) Floating the pound and raising fuel prices are two key steps through which Egypt is trying to follow austerity measures to obtain a $12 billion dollar loan from the International Monetary Fund.

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    دأحمد سعد سالم
    18 views1 page
    (1) The government decided to raise fuel prices to fully remove subsidies and deliver them to those entitled. (2) The Central Bank of Egypt decided to float the Egyptian pound and liberalize the dollar price to eliminate the black and parallel markets. (3) Floating the pound and raising fuel prices are two key steps through which Egypt is trying to follow austerity measures to obtain a $12 billion dollar loan from the International Monetary Fund.

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    (1) The government decided to raise fuel prices to fully remove subsidies and deliver them to those entitled. (2) The Central Bank of Egypt decided to float the Egyptian pound and liberalize the dollar price to eliminate the black and parallel markets. (3) Floating the pound and raising fuel prices are two key steps through which Egypt is trying to follow austerity measures to obtain a $12 billion dollar loan from the International Monetary Fund.

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    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
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    18 views1 page

    Translate

    Uploaded by

    دأحمد سعد سالم
    (1) The government decided to raise fuel prices to fully remove subsidies and deliver them to those entitled. (2) The Central Bank of Egypt decided to float the Egyptian pound and liberalize the dollar price to eliminate the black and parallel markets. (3) Floating the pound and raising fuel prices are two key steps through which Egypt is trying to follow austerity measures to obtain a $12 billion dollar loan from the International Monetary Fund.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
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    Translate to Arabic:
    After weeks of speculation on whether the pound will be
    devalued or floated, the Central Bank of Egypt (CBE)
    decided to fully float the Egyptian currency. The exchange
    rate of the currency is now determined by supply and
    demand, a move aimed at putting an end to the parallel
    market.

    Key words:
    Raise prices
    Fuels
    Pound floating
    Subsidization =
    Subsidy
    Austerity measures
    Get a 3-year $12 billion loan from the IMF
    Black/parallel market /
    International Monetary Fund
    Devalue
    ******Good Luck*****

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