Government to resume talks with local companies on USD denominated debt

Members of the Egyptian Federation of Investors Associations will meet Prime Minister Sherif Ismail on Sunday to continue talks on solutions for the repayment of USD-denominated debts after the EGP float, Al Borsa reported. Finance Minister Amr El Garhy and CBE Governor Tarek Amr are also set to attend. Amer had met with Federation of Egyptian Industries Chief Mohamed El Sewedy last week to discuss a tentative action plan that would allow companies to repay their outstanding dues in instalments over a fixed period of time and negotiate fixed exchange rates with banks.