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Egypt’s pound rallies to near three-year high, breaking EGP 16 / USD 1 barrier
EGP rallies to near three-year high: The EGP rose to its highest level since February 2017 against the USD, breaking…
Egyptian expat remittances forecast to be among fifth-highest in the world in 2019
Egyptian expats are projected to send home the fifth highest value of remittances in the world by the end of…
Egypt’s pound rallies to new two-and-a-half year high, approaching EGP 16 / USD 1 barrier
EGP rallies to new two-and-a-half year high: The EGP rose to a new two-and-a-half year high against the greenback, hitting…
Current account deficit widens to USD 8.2 bn in FY 2018-2019
Egypt’s current account deficit widened to USD 8.2 bn in FY 2018-2019, up from USD 6 bn the previous year,…
CIB partners with Transfast to allow remittance transfers from Egyptian expats
CIB has partnered with money transfer company Transfast to allow Egyptian expats to send remittances to bank accounts in Egypt,…
Remittances are outpacing FDI and foreign aid as developing countries’ biggest source of foreign capital
Remittances are officially set to outpace FDI, aid, and private capital flows as the biggest source of foreign capital in…
EMs look to lure remittances into “diaspora bonds” to finance economic growth
EMs look to lure remittances into “diaspora bonds” to finance economic growth: As emerging markets struggle with historically low FDI,…
Egypt’s current account deficit to continue to widen as trade balance deteriorates -Fitch
We may be close to finishing the IMF program, but our trade balance isn’t looking much better: Egypt’s current account…
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