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Infrastructure 
Banks impose minimum interest rate of 24% on secured loans
The new minimum came into effect on Monday following instructions from the CBE
CBE instructs all local banks to charge a minimum 24% interest rate on all secured loans
Good afternoon, friends. It’s an eerily calm news day here at home so far, although we have a feeling it’s…
The economy dominated the airwaves until the early hours
El Hadidi warned 2024 “may be the most difficult for us economically…whether for people’s pockets, lives, or the government itself,”
FX reserves flat in December
Our total FX reserves now stand at USD 35.2 bn
Currency crunch and supply shortages see PMI flat in December
The country’s non-oil private sector has been in contraction for 37 consecutive months
Current account deficit narrows in 1Q 2023-2024
This is the second quarterly BoP surplus in a row and the third quarterly surplus since 2014
New 27% CDs bring in EGP 11 bn on day one
The two banks introduced the record-high yield CDs over the weekend
Gov’t unveils six-year strategy to triple FX receipts. PLUS: IMF sees USD trading at 36.83 against EGP through 2028
The government aims to ramp up its foreign exchange inflows to around USD 300 bn a year by 2030
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