CAIRO, June 18 Egypt's central bank will remove
restrictions on dollar deposits in the coming months, the
International Monetary Fund's mission chief for Egypt, Chris
Jarvis, told the country's Al-Borsa newspaper on Sunday.
The move will form part of a package of economic reforms
Egypt has to implement to bring back foreign investment, in
return for a $12 billion IMF lending programme.
In a long-awaited move, the central bank removed limits on
international currency transfers last week, scrapping a $100,000
monthly limit on individual bank transactions.
"The central bank's policy also includes removing remaining
restrictions, including limits on dollar deposits, which we
understand will take place in the coming months," the financial
newspaper quoted Jarvis as saying.
Egypt put in place strict controls on the movement of
foreign currency after its 2011 political uprising, in an effort
to limit the flight of capital.
As part of the three-year IMF deal, Egypt is obliged to end
those controls, which include a limit of $50,000 per month on
deposits for importers of non-priority goods.
(Reporting by Ehab Farouk; writing by Arwa Gaballa; editing by
Giles Elgood, Larry King)