13/03/1999
Al-Akhbar Newspaper 1999/MARCH /13
Dr. Nader Riad says the unrestricted transfer of foreign funds could provide stability in the Egyptian market. At the same time, though, he acknowledges that this right could be misused. For this reason, he calls on the state, banks and indeed all economic actors to take the necessary steps to avoid any negative repercussion.(Available in Arabic – German in PDF )
Dr. Nader Riad says the unrestricted transfer of foreign funds could provide stability in the Egyptian market. At the same time, though, he acknowledges that this right could be misused, thus leading to excessive imports or to an excessive attention to luxury goods rather than necessary commodities. Steps must be taken, also by the State, to avoid such negative repercussions, and this includes real estate financing and interests on loans. Dr. Riad thinks interest rates should be raised when real estate supply overweighs demand, and vice versa.