Tarek Amer, the governor of the Central Bank of Egypt (CBE), disclosed on Thursday that the banking sector managed in the last few days to secure $1.2bn for importing food commodities to be sufficient for six months. This will act as a strategic reserve for the state.
During a press conference held Thursday to disclose the details of floating the Egyptian pound, Amer said there are great efforts exerted by the CBE for protecting the poor from the consequences of implementing the economic reform programme and freeing the exchange price.
