Cairo – Mubasher: The Central Bank of Egypt (CBE) decided to extend two initiatives to relieve the debt for defaulting companies and tourism businesses for a six-month period ending on 30 June 2021, according to a statement on Sunday.
Under the first initiative, the names of defaulting companies with debt less than EGP 10 million will be removed from blacklists and any legal action against them will be dropped, once they pay part of their debt.
In addition, the names tourism companies with debt of more than EGP 10 million who pay above 50% of their debt will also be removed from blacklists and any legal action will be called off.
