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Industry players are breathing a sigh of relief after the EGP float
But the higher interest rate environment is cause for concern for some
Gov’t ramps up efforts to clear import backlog following currency float
USD 12 bn of goods have been released since the start of 2024
Banks trade USD 1.9 bn in two days
The EGP lost almost 37% of its value against the greenback after the float
Investors are loving EGP t-bills
International investors bought up USD 825 mn of the bills sold
Moody’s upgrades Egypt’s outlook to positive
Moody’s expects the FX liquidity from the Ras El Hekma agreement to close the external funding gap until FY 2025-2026
We could be in for USD 20 bn in foreign support. PLUS: Good news from Morgan Stanley
The USD 20 bn figure includes the USD 8 bn IMF package
Egypt floats its currency, agrees with IMF on a USD 8 bn program
Good morning, ladies and gentlemen, and happy Friday. It is the last weekend before Ramadan and if you are observing…
Looking back at the months preceded the EGP float
The government has been gearing towards this moment
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