VOL. XLVI

No 33

18-August-2003

EGYPT

CAPITAL MARKETS

Egyptian Stocks Recovering After Drop On Fund Repatriation Backlog

Egyptian stocks rebounded last week after falling over the prior few weeks on concerns about the development of a backlog in repatriating investors funds. The backlog was preventing investors from changing money made from transactions on the Cairo and Alexandria Stock Exchange back into hard currency, mostly dollars, after they had initially changed the funds into Egyptian pounds...