Central Bank of Egypt Pumps $32Mn to Support Stock Exchange

The Egyptian government said the Central Bank had spent EGP500 million ($31.95 million) from an allocated 20 billion Egyptian pounds ($1.28 billion) to support the stock exchange and mitigate the effects of the coronavirus pandemic on the country’s economy.

“Exceptional financial sector measures, taken in response to the COVID-19 outbreak - including but not limited to the [Central Bank of Egypt’s] stock purchase program - will be rolled back when conditions allow,” the government said.