CBE has liquidity enough to support national economy

Deputy Governor of the Central Bank of Egypt (CBE) Gamal Negm said on Wednesday that Egyptian banks have liquidity allowing them to grant loans and support the national economy.

At a press conference, he added that such liquidity is not available in many world countries.

The role of the CBE is to provide jobs and encourage industry and projects, he pointed out, adding that the CBE had settled debts of around 100 faltering investors to the value of 19.4 billion pounds and waived up to 6.5 billion pounds owed by other investors.