Cairo - Mubasher: The governor of the Central Bank of Egypt (CBE) said that the Egyptian economy has attracted $45 billion from the central bank and the banking sector during the last six months.

Tarek Amer added during a press conference on Tuesday that the foreign exchange crisis has been resolved, with progress seen in foreign direct investments (FDI), and tourism.

Amer also said that foreign reserves currently exceeds global average, as it covers seven months’ worth of imports after previously reaching only three months.

The CBE aims at removing all obstacles facing foreign investment inflows to the Egyptian market, Amer added, noting that $750 million have been repaid to international companies with a similar amount set to be paid at the beginning of June.

The deputy governor of the CBE, Gamal Negm, previously said that USD inflows into the banking sector totalled $21 billion since the decision to float the local currency and free exchange rates, adding that foreign currency inflows prior to the flotation stood at $6.6 billion.

On 3 November 2016, the CBE decided to float the Egyptian pound and free exchange rates.