17.06.2014 - Why do Gulf sovereign funds not invest in Egypt?
The Gulf's support for the Egyptian economy after the dismissal of former President Mohamed Morsi on July 3, 2013, has taken several forms including bank deposits into the Central Bank of Egypt, petroleum derivatives, long-term loans and non-refundable grants. Initially it was announced that the size of this support was $12 billion. However, during his presidential campaign Al-Sisi told the media that this support reached more than $20 billion in just 10 months. This support rescued many economic indicators of Egypt, such as that seen in the stability of the foreign exchange reserves at $17.2 billion at the end of May 2014, and the relative maintenance of the price of the Egyptian pound from a dramatic collapse...............................................Full Article: Source
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