{"id":640853,"date":"2017-09-06T03:54:17","date_gmt":"2017-09-06T03:54:17","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2017\/09\/06\/egypt-has-cleared-its-fx-backlog\/"},"modified":"2017-09-06T03:54:17","modified_gmt":"2017-09-06T03:54:17","slug":"egypt-has-cleared-its-fx-backlog","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2017\/09\/06\/egypt-has-cleared-its-fx-backlog\/","title":{"rendered":"Egypt has cleared its FX backlog"},"content":{"rendered":"

<\/a> Egypt has cleared its import, trade-finance FX backlog:<\/strong> In another milestone of the nascent economic recovery, Egypt has managed to clear its multi-bn USD FX backlog for imports and trade financing, an unnamed CBE official tells Bloomberg<\/a>. Some USD 49 bn of trade-financing transactions were cleared between the EGP float and August, including USD 2.1 bn in requests made by importers and other businesses seeking to settle temporary overdrafts, the official said. Some USD 552 mn has been made available to foreign companies seeking to repatriate profits, following the CBE\u2019s announcement that USD 1.2 bn in pending requests by multinationals have been cleared. \u201cThe figures confirm the economy is recovering and is increasingly able to generate more of its FX needs<\/strong>,\u201d said Arqaam Capital\u2019s Reham El Desoki. Increased transparency from the CBE, in line with its commitments to the IMF, would help reassure investors, she said. Net FX reserves reached their highest point ever in July, jumping to USD 36 bn, with the government expecting this number to rise this month, according to statements by Prime Minister Sherif Ismail yesterday, AMAY reports<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"

Egypt has cleared its import, trade-finance FX backlog: In another milestone of the nascent economic recovery, Egypt has managed to clear its multi-bn USD FX backlog for imports and trade financing, an unnamed CBE official tells Bloomberg. Some USD 49 bn of trade-financing transactions were cleared between the EGP float and August, including USD 2.1 […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[8572],"tags":[72,2380],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-640853","post","type-post","status-publish","format-standard","hentry","category-speed-round","tag-enterpriseam","tag-speed-round","wpautop","entry"],"acf":{"mongo_id":"3e18d17e-e4d9-4cb4-a04a-de587051d75a","order":"0","is_powered_by":true,"story_type":"1","photo_url":"","photo_position":"above","related_issue":[640847],"teaser":"","voice_url":""},"yoast_head":"\nEgypt has cleared its FX backlog - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/2017\/09\/06\/egypt-has-cleared-its-fx-backlog\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Egypt has cleared its FX backlog\" \/>\n<meta property=\"og:description\" content=\"Egypt has cleared its import, trade-finance FX backlog: In another milestone of the nascent economic recovery, Egypt has managed to clear its multi-bn USD FX backlog for imports and trade financing, an unnamed CBE official tells Bloomberg. Some USD 49 bn of trade-financing transactions were cleared between the EGP float and August, including USD 2.1 […]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/egypt\/2017\/09\/06\/egypt-has-cleared-its-fx-backlog\/\" \/>\n<meta property=\"og:site_name\" content=\"EnterpriseAM Egypt\" \/>\n<meta property=\"article:published_time\" content=\"2017-09-06T03:54:17+00:00\" \/>\n<meta name=\"author\" content=\"enterpriseam admin\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"enterpriseam admin\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2017\/09\/06\/egypt-has-cleared-its-fx-backlog\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2017\/09\/06\/egypt-has-cleared-its-fx-backlog\/\"},\"author\":{\"name\":\"enterpriseam admin\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\"},\"headline\":\"Egypt has cleared its FX backlog\",\"datePublished\":\"2017-09-06T03:54:17+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2017\/09\/06\/egypt-has-cleared-its-fx-backlog\/\"},\"wordCount\":185,\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#organization\"},\"keywords\":[\"EnterpriseAM\",\"SPEED ROUND\"],\"articleSection\":[\"Speed Round\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2017\/09\/06\/egypt-has-cleared-its-fx-backlog\/\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/2017\/09\/06\/egypt-has-cleared-its-fx-backlog\/\",\"name\":\"Egypt has cleared its FX backlog - EnterpriseAM Egypt\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#website\"},\"datePublished\":\"2017-09-06T03:54:17+00:00\",\"breadcrumb\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2017\/09\/06\/egypt-has-cleared-its-fx-backlog\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/enterpriseam.com\/egypt\/2017\/09\/06\/egypt-has-cleared-its-fx-backlog\/\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2017\/09\/06\/egypt-has-cleared-its-fx-backlog\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/enterpriseam.com\/egypt\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Egypt has cleared its FX backlog\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#website\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/\",\"name\":\"EnterpriseAM\",\"description\":\"The State of the Nation\",\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/enterpriseam.com\/egypt\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Organization\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#organization\",\"name\":\"EnterpriseAM\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/logo\/image\/\",\"url\":\"https:\/\/ent.news\/internal\/240894.svg\",\"contentUrl\":\"https:\/\/ent.news\/internal\/240894.svg\",\"caption\":\"EnterpriseAM\"},\"image\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/logo\/image\/\"}},{\"@type\":\"Person\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\",\"name\":\"enterpriseam admin\",\"sameAs\":[\"http:\/\/enterpriseam.testing.projectsarea.com\"],\"url\":\"https:\/\/enterpriseam.com\/egypt\/author\/enterpriseam\/\"}]}<\/script>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"Egypt has cleared its FX backlog - EnterpriseAM Egypt","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/enterpriseam.com\/egypt\/2017\/09\/06\/egypt-has-cleared-its-fx-backlog\/","og_locale":"en_US","og_type":"article","og_title":"Egypt has cleared its FX backlog","og_description":"Egypt has cleared its import, trade-finance FX backlog: In another milestone of the nascent economic recovery, Egypt has managed to clear its multi-bn USD FX backlog for imports and trade financing, an unnamed CBE official tells Bloomberg. 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