Reuters is reporting that our economy is still in choppy waters even after reaching an agreement with the IMF for a USD 3 bn bailout package last month. The newswire says investors remain wary of the Egyptian market given our high debt servicing bill against the backdrop of an FX shortage and further expected weakening of the EGP against the USD.

Also making headlines:

  • More COP critique: Oil executives reportedly engaged in a flurry of fossil-fuel dealmaking on the sidelines of COP27. (FT)
  • The new administrative capital’s landmark Egypt Mosque and the historic Sultan Hassan mosque tell a tale of two Cairos. (The Architect’s Newspaper)
  • Greek authorities arrested seven Egyptians suspected of attempting to smuggle migrants on a boat that was rescued in Cretan waters on its way from Libya to Italy. (AP)
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