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Flexible exchange rate is key to getting out of our bottleneck, IIF says
Delayed IMF program, high debt levels, twin deficits and rising net foreign liabilities weighing on nation’s finances
The PMI was in contraction territory again in June
The PMI rose to 49.1 from 47.8 in May
With soaring inflation, gov’ts need to raise taxes or slash public spending + Cancer vaccines could be ubiquitous in the next few years
The Bank for International Settlements is also encouraging the separation of fiscal + monetary policymaking
Central Bank of Egypt leaves interest rates unchanged
The CBE is adopting a wait-and-see approach while previous rate hikes take effect
CBE holds ground with unchanged interest rates + Crunch time for the privatization program
Good morning, friends, and happy FRIDAY. It’s officially the last few days before the Eid break, which is set to…
Eastern Company cancels heated tobacco investment to conserve FX
Eastern is saving its hard currency to produce cigarettes amid the FX crunch
Another deval “not the right way forward,” says Deutsche Bank
Further currency weakness likely to impact debt sustainability, analysts say
Private-sector minimum wage to rise 11% in July
The move puts the private-sector minimum wage up 25% in the last six months
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