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The 2016 financial year in Egypt witnessed notable milestones, which can be bring hope to people and instill investor confidence amid the existing crisis. There was installation of a new Central Bank of Egypt Governor. The new Central Bank of Egypt leader introduced a change from the accommodative monetary policy to a very strict and tight one. This new financial reforms were implemented in 2016 amidst the biting high level of inflation. The new leader of the Central Bank of Egypt has managed to bring about good capital controls as well as progressive import policies. The intention of these import policies and capital controls is basically to ensure that financial crisis of foreign exchange shortages is solved.
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