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The float of the EGP is dividing the international commentariat
Ruchir Sharma praised Egypt among four other “on the mend” emerging markets for “bowing to market realities”
Annual inflation jumps to 35.7% in February, defying analyst forecasts
Food and beverage prices climbed by 50.9% y-o-y and 16.7% m-o-m in February
“Back on the right track”: What the pundits are saying
The decisions “put us back on the right track,” but more needs to be done, pundits say
What to watch for next: Inflows and cooling inflation top the list
Commodity prices are expected to fall, Federation of Chambers of Commerce Secretary-General Alaa Ezz said
Banks roll out high interest rate CDs, ease currency controls on credit cards
The parallel market is “on its way to disappearing completely,” Banque Misr Chairman Mohamed El Etreby said
What got us there: A float of the EGP and a 600 bps rate hike
The EGP fell to record lows, before settling at 49.5 against the USD
Non-oil private sector activity falls to 11-month low on the back of Red Sea disruptions, high inflation
Non-oil private sector activity has been in contraction for more than three years
Mahmoud Mohieldin shares regional and global outlook at EFG Hermes’ One-on-One conference
Mohieldin sees the “center of economic gravity” shifting towards the East, though challenges for emerging markets persist
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