Cairo – Mubasher: The Egyptian banking sector has received cash inflows of about $200 billion since the Central Bank of Egypt (CBE) has decided to free float the Egyptian pound in November 2016, Middle East News Agency (MENA) reported, citing CBE’s governor, Tarek Amer, as saying.

Egypt and the International Monetary Fund (IMF) are in talks over possible means of cooperation in the coming period as the IMF-backed economic reform programme will end in June, Amer added during Seamless North Africa conference on Monday.   

In addition, the top official affirmed that the country’s foreign debt is still within the safe limits.

Egypt’s external debt rose by 3.4% to EGP 96.6 billion in December 2018, compared to EGP 93.1 billion in September 2018, according to data released by the CBE in May.