Egypt’s economists have lauded a recent decision by the Central Bank to lift caps on foreign exchange transfers, saying that the decision sends positive messages about the country’s improving monetary conditions as well as restoring confidence in the national economy.
“The decision highlights that the dollar shortage that took place over the past few months is finally easing,” economist Ahmed el-Shami told Al-Monitor. Shami said that the decision will encourage investors to pump more money into the country and also prompt Egyptians abroad to freely transfer their money.