Egyptian draft law for independent c bank approved

EGYPT - Egypt's cabinet approved Tuesday a draft law to make the Central Bank of Egypt independent from the now-defunct economy ministry, according to a cabinet official.

Under the draft law, which still needs to be approved by the president, the central bank will have control, along with other economy ministry duties, over foreign exchange and foreign debt.

In a cabinet reshuffle last week, the Ministry of Economy and Foreign Trade was changed to the Ministry of Foreign Trade, taking away its