Economic group reviews exchange market developments
Egypt, Economics, 9/10/2001

The Ministerial Economic Group Sunday held a meeting under Egyptian Prime Minister Atef Ebeid.

It reviewed developments on the foreign currency exchange market after five weeks of the application of measures which aimed at realizing stability in the foreign exchange market.

The group reviewed the flow of resources to the market and was reassured that there was an increased currency flow which indicates confidence of dealers.

The economic group was also assured that the banking system is committed to meet all needs of buyers and sellers in the foreign currency exchange market.

The group agreed that the central price system which was in force last week should continue to be applied this week.

Meanwhile Ebeid received on Sunday a delegation from the Federation of Arab Chambers of Commerce (FACC).

The meeting probed the role of the Arab capital markets in achieving a comprehensive development in the Arab world.

Ebeid also held a meeting on Sunday with Oil Minister Sameh Fahmi and senior officials in the oil sector, which dealt with means of increasing foreign currency sources to the oil sector.

The other hand, Ebeid Sunday received Ding Guan Gen member of the Chinese Communist Party politburo, and his accompanying delegation to discuss means of augmenting economic and trade cooperation between Egypt and China.

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