Egypt expects boost in cash and investments from China

302 views · Published 19 January 2016 · 4:27 · Indexed 26 October 2026

Channel: CGTN Africa · 2016 · News & Politics

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Egypt is expecting a major boost in cash and investments from China this week when President Xi Jinping makes an official tour of the country. The central bank is hoping to receive a $1 billion loan, to help shore up its foreign reserves. Egypt is battling to overcome an acute dollar shortage with a raft of rules aimed at cutting back imports and thereby reducing demand for hard currency.

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