CBE approves to postpone overdue loans by tourism employees for 6 months

The Central Bank of Egypt (CBE) approved the postponement of overdue loans by employees at the tourism sector for six months.

In a statement Monday, the CBE said that the decision came as part of its efforts to support national economy and activate the various economic sectors, topped by the tourism sector, which is a primary source of foreign currency.

Battered by years of political turmoil, once-strong Egypt's tourism sector took another blow after the October 31 Russian passenger plane crash in the Sinai Peninsula that killed all 224 people on board, mostly Russian vacationers.