Ebeid: conditions in banking systems stable

Egyptian Prime Minister Atef Ebeid visited the Central Bank of Egypt and met with the governor, Ismail Hassan who will leave his post for reaching the legal pension age.

They reviewed the situation of the exchange rate market and daily dealings at banks.

He was reassured that conditions in the banking system were stable which reflected confidence in Egyptian economy.

He discussed conditions of the capital market and pointed out that confidence of citizens in Egyptian economy was increasing day after day. That was shown in the increase in bank deposits.

Ebeid said he received daily reports from the International Monetary Fund (IMF) and the World Bank on developments of world economy in the light of recent developments.

The government is making a daily follow-up of developments of economic performance in order to be continually in touch with the repercussions of events on Egyptian and world economy.

Ebeid said that the government was increasing the resources of foreign currency and international reserve and stressed that it is completely safe and is continually increasing.