CBE governor to meet with Investor Associations next week to resume talks on pre-floats LCs

CBE Governor Tarek Amer will meet with members of the Union of Egyptian Investors Associations early next week to resume talks on the repayment of LCs issued before the EGP float, Al Borsa reported. The meeting will look into rescheduling the loans, set a fixed exchange rate for the debt as well as interest rate, according to the Union’s Mohamed Farid Khamis. In a meeting last week, the Federation had agreed with PM Sherif Ismail that pre-float LCs would be repaid over a seven-year period.