Sisi: I stopped floating the pound last year for reasons related to national security. A few days ago, the Central Bank of Egypt allowed the pound to decline and pledged to switch to a more flexible exchange rate system.
Last Wednesday, the International Monetary Fund approved an $8 billion loan to Egypt, an increase of $5 billion from what was previously being talked about, which was $3 billion. Experts believe these measures would create a state of stability in the exchange rate of the Egyptian pound, provide the dollar for import, and release goods held in Egyptian ports.