VOL. XLV
No 46
18-November-2002
EGYPT
Egypts Central Bank Cuts Discount Rate To 10%
The Governor of Egypts Central Bank, Dr Mahmud Abu al-'Uyun, has announced that the bank is reducing its discount rate from 11% to 10% with effect from 11 November in a move designed to bolster private investment. We hope that banks take this message in a bid to lower lending costs for others, so as to encourage private investments, said Dr Abu al-'Uyun. Despite the difficult economic conditions that the country...
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