Central bank’s rate hike, devaluation and the impact of war on our wheat supply are all preoccupying the international press this morning

Leading the conversation on Egypt in the foreign press: The Central Bank of Egypt’s decision to raise interest rates by 100 bps. The bold move is broadly being welcomed by investors and is seen by analysts as part of the fiscal and monetary response required to address the repercussions of the Russia-Ukraine war. Reuters, Bloomberg, and the Financial Times all had coverage.

The foreign press is also fixated on the war’s impact on our wheat supply: TheFinancial Times is out with a piece on Egypt’s moves to secure wheat supplies amid shortages caused by the Russia-Ukraine war, and the still-uncertain fate of the bread subsidies program, on which the government is still weighing a decision.