CAIRO (Reuters) - Egypt will receive the second $1 billion tranche of a $3 billion World Bank loan in March, Central Bank Governor Tarek Amer said on Friday.
Amer told local broadcaster DMC in an interview that the central bank would provide $1.5 billion for payments to foreign oil companies this year and that banks have started allowing foreign companies to repatriate profits.
He stressed that the central bank does not give instructions to banks regarding foreign exchange rates following its float of the pound currency and said the effects of the Nov. 3 float were not as bad as he had initially expected.
- Labrador retriever fetches top U.S. dog breed honor for record 28th year7 Pictures
- Oscars 2019: Red carpet looks and full list of winners36 Pictures
(Reporting by Ahmed Aboulenein; Editing by Catherine Evans)