Anglo-Egyptian Sterling Agreement
LONDON, Mon. HO n.m.). —Britain and Egypt have signed a sterling agreement. It is officially announced that it provides the release in 1948 oi £ 21,C00,000 from Egypt's pre-July 1947 sterling balances, and an increase of £11.000,000 in the working balance above the £12,000,000 already placed at Egypt’s disposal. Britain, in 1948, sells Egypt £6.250.000 worth of United States dollars against sterling for current transactions, also approximately £1.000,000 worth of gold for Egypt’s quota to the International Monetary Fund and Bank.
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https://paperspast.natlib.govt.nz/newspapers/NA19480106.2.94
Bibliographic details
Northern Advocate, 6 January 1948, Page 6
Word Count
83Anglo-Egyptian Sterling Agreement Northern Advocate, 6 January 1948, Page 6
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