Central Bank of Egypt seeks help at home and abroad to shore up currency reserves

egyptian money

The United Arab Emirates will provide the Egyptian interim government with a grant of $1bn and an interest-free loan of $2bn, the state news agency in Abu Dhabi said on Tuesday, after Central Bank of Egypt (CBE) governor Hisham Ramez visited on Sunday to plead for help to bolster the country's foreign reserves.

Ramez's mission came at the end of a tumultuous week that saw the military oust president Mohamed Morsi, and was accompanied by a public appeal from the CBE for Egyptians to donate funds

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