NO. 15


Financial and Banking News

Financial Policy

Mubarak Resists Calls For Devaluation Of Pound

President Husni Mubarak of Egypt has strongly defended his government'srefusal to allow a devaluation of the Egyptian pound as part of a strategy toimprove the competitiveness of the Egyptian economy. It is widely believed inEgypt that the International Monetary Fund (IMF) wants to see a devaluationbefore signing off on the first review of the Extended Fund Facility (EFF)...