VOL. XXXNO. 510-NOVEMBER-1986
Financial and Banking News
BUDGETS AND REVENUES
New Egyptian Forth Tier Effectively Devalues E
The Egyptian government has introduced a new fourth tier to its foreignexchange rate system, although no official announcement has been issued. Therate applies to foreign expenditures by Egyptians on state-financed businessi.e. expenses for foreign missions, for medical care abroad and for the Haj.Apart from the severe hardship that this causes for Egyptian diplomatic...
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