VOL. XXXVII
NO. 43
25-JULY-1994
Financial andBanking News
Economic Policy
Egyptian Businessmen Oppose Devaluation, But IMF Focuses On Wider Issues
On the eve of the first half yearly review of Egypt's IMF Extended FundFacility (EFF), the Egyptian Businessmen's Association sent a letter to theFund's Managing Director, Mr. Michel Camdessus, opposing any devaluation of theEgyptian pound. The IMF is widely - and mistakenly - believed to be pushingfor a devaluation as a way of maintaining the...
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