Egyptian central bank cancels import restrictions

EGYPT - The Central Bank of Egypt said Monday it had cancelled import restriction proposals that were designed to protect the declining Egyptian pound and boost the sluggish economy.

A central bank spokeswoman confirmed Thursday's press reports quoting comments from banking federation officials that some of the proposed restrictions had been canceled.

She said that the governor of the central bank would issue a new set of proposals soon, but it was unclear if any of the shelved plans would

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