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EGYPT: Military planes tapped to transport cash to banks

February 5, 2011 |  2:31 pm

Bank The Egyptian central bank used military cargo planes to move 5 billion Egyptian pounds, about $853 million, to banks across the country before they open tomorrow, Central Bank Governor Farouk Okdah told state-run television.

Egypt’s tourism industry has lost $1.5 billion since protests demanding the ouster of President Hosni Mubarak began Jan. 25, Okdah said, according to the state-run Middle East News Agency, which ran excerpts of his television interview.

--  Molly Hennessy-Fiske

Photo: A Cairo HSBC bank branch looted and set on fire Jan. 30. Bank closures, shortages and price increases have added to the economic crunch facing Egyptians, sparking anger both at the government and street protesters. Credit: Lefteris Pitarakis/Associated Press


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