Egypt is considering implementing a barter trade system with Russia, Türkiye, and some African countries due to the shortage in foreign currencies, Asharq Business reported on November 12th, citing three unnamed government sources.
The barter trade method is pending the approval of the Central Bank of Egypt (CBE), a source added.
The CBE will be the guarantor of the barter operations for both parties, one of the sources said.
On November 6th, it was reported that Egypt is willing to barter instead of using up its supply of USD to continue purchasing tea from Kenya.
Source: Zawya
