VOL. XXXVI

NO. 34

24-MAY-1993

Financial and Banking News

CAPITAL MARKETS

Egyptian Liquidity: All Dressed Up But Nowhere To Go

Egypt's financial position has been transformed during the last two years asmoney has flowed back into the country from abroad and the Egyptian pound hasbecome a stable currency, defended by the Central Bank. International reservesnow represent more than 12 months' imports, a stark contrast from the positionjust three years ago, when import cover amounted to less than three...