person:hisham ramez

Sissi récolte 3,8 milliards de dollars pour son canal bis

Suez Canal certificate sales inject LE27 bn into Egypt’s banks: CBE governor
– Ahram Online ▻http://english.ahram.org.eg

Investment certificates issued earlier this month to finance the digging of a new Suez Canal have attracted LE27 billion ($3.8 billion) of fresh cash to the Egyptian banking system, announced the central bank’s governor, Hisham Ramez, on Sunday.
The government has gathered a total of LE64 billion from the certificates, surpassing the LE60 billion initially targeted to finance the national project, Ramez told reporters at a press conference.

The certificates were sold exclusively to Egyptians in the local currency at values of LE10, LE100, LE1000 at an interest rate of 12 percent, the highest offered on any such instruments by Egyptian banks.

They were met with huge popular demand, as 82 percent of buyers were individuals, with LE15.7 million worth of the lower value LE10 and LE100 certificates sold.

Only 10 percent of Egyptians have bank accounts, according to the World Bank.

A total of $1.5 billion were converted to Egyptian pounds inside the banking system to buy the certificates, and Egyptian expatriates bought LE350 million worth of certificates.

The extra LE4 billion collected will be used to fund the project, confirmed Ramez.

The extension of the canal, which links the Mediterranean Sea to the Indian Ocean via the Red Sea, is expected to increase annual revenues from the waterway to Egypt’s coffers over the next nine years to $12-13 billion, according to Finance Minister Hany Kadry Demian.

La spéculation internationale s’intéresse à nouveau à la dette égyptienne

Egypt sees foreign buyers in July’s T-bills auction for 1st time since 2011 - Economy - Business - Ahram Online
▻http://english.ahram.org.eg/NewsContent/3/12/108292/Business/Economy/Egypt-sees-foreign-buyers-in-Julys-Tbills-auction-.aspx

Central bank governor Hisham Ramez says foreign purchases of T-bills show Egypt is beginning to recover after years of turmoil
Ahram Online, Tuesday 12 Aug 2014
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Egypt’s Central Bank Governor Hisham Ramez speaks during the opening session of the “Egypt/GCC Investment Forum - Strategic Partnerships, Economic Synergies” in Cairo December 4, 2013 (Photo: Reuters)
Egypt saw foreign bidders in one of the Central Bank’s treasury bill auctions in July for first time in years, the Cabinet stated on Monday.

“Foreigners bought T-bills through the auction and this is a very positive indicator on Egyptian economy’s recovery, proving that the latest governmental decisions have put the country on the right path,” Hisham Ramez, the CBE’s governor said in the statement.

According to the finance ministry’s data, foreign bidders bought in July some $40 million (LE284 million) worth of T-bills.

Foreigners had been keen buyers of T-bills, attracted by Egypt’s reputation for political stability and encouraged by sturdy growth that was running at about 6 percent a year before unrest hit key revenue earners such as the tourism industry.

The Egyptian government introduced the T-bill auctions as a tool to borrow from banks in an attempt to trim the budget deficit with 3-month, 6-month, 9-month and one-year maturities.❞

Egyptian foreign reserves edge up in March : Central Bank head - Daily News Egypt

▻http://www.dailynewsegypt.com/2014/04/02/egyptian-foreign-reserves-edge-march-central-bank-head

Egypt’s foreign reserves rose to around $17.42bn in March from $17.307bn in February, central bank governor Hisham Ramez said, edging further away from critical lows they hit last year.