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Inflation returns to acceleration in May
Food and beverage inflation rose to 60% y-o-y
THIS MORNING: IMF says talks are “encouraging,” expects progress within weeks on economic reform agenda
Positive signs on privatization and FX rate stability
Egypt’s debt problem in focus
Analysts say reform is the only way to get the country’s external debt on a sustainable trajectory
Bills on everything from citizenship to ‘fake weather news’ officially become law
Foreigners now have more routes to a green passport
CBE bans some prepaid cards from making international transactions
The move affects cards that aren’t linked to bank accounts
Orascom Construction, Metito to build USD 2.4 bn desalination plant in Abu Dhabi. PLUS: Standard Chartered eyes Egypt, FX crisis hits Arab Alloys industrial complex
The project will process more than 500k cbm of seawater per day
Egypt has options to solve the FX-devaluation conundrum
Today: AfDB meetings, SCZone China roadshow, and EFG Hermes AGM
Gov’t acts amid fears of pharma shortage
Demolition of historic tombs at the City of the Dead received criticism
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