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The Central Bank of Egypt hikes interest rates by 200 bps + We’re still waiting to hear from IMF
Good morning, friends, and happy Friday. We hope you have a warm and restful weekend on these very chilly days.…
IMF officials are in town for loan discussions. PLUS: Moody’s downgrades our credit outlook
Currency weakness means that even IMF support may be “insufficient” to stave off Egypt’s growing debt burden, Moody’s says
FX reserves flat in December
Our total FX reserves now stand at USD 35.2 bn
FX reserves flat in November
FX reserves have added USD 2 bn in the last fifteen months
Kuwait rolls over USD 4 bn CBE deposit -report
The two-tranche deposit is now set to mature in April and September next year
Our FX reserves inched up in October
An additional USD 132 mn was added to our FX stockpiles
Egypt must devalue or risk “bleeding” reserves -IMF chief
Kristalina Georgieva suggests there could be news in the coming weeks on when we can expect a review of progress…
Every little bit helps
The CBE added another USD 50 mn to the stockpile during the month
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