Egypt’s Sisi says flexible currency is possible with new financing – 2024-03-09

CAIRO, March 9 (Reuters) – Egyptian President Abdel
Fattah al-Sisi said on Saturday that with tens of billions of
dollars in new financing from the United Arab Emirates and the
International Monetary Fund, moving to a flexible exchange rate
would be possible.

Sisi said he had stopped the pound currency from floating
last year for national security reasons because a large amount
of funding was needed before making such a move.

(Reporting by Enas Alashray and Adam Makary
Writing by Aidan Lewis; Editing by Emelia Sithole-Matarise)