Central Bank of Egypt Archives

Fitch wants to see signs of sustained progress before upgrading Egypt’s credit rating

Recent developments were already “baked” into Egypt’s current rating and outlook

FinMin was reluctant to meet the high interest rates demanded by investors

JPMorgan sees the CBE hiking interest rates by a further 200 bps when it meets later this month

Food and beverage prices climbed by 50.9% y-o-y and 16.7% m-o-m in February

But the higher interest rate environment is cause for concern for some

The EGP lost almost 37% of its value against the greenback after the float

International investors bought up USD 825 mn of the bills sold

Moody’s expects the FX liquidity from the Ras El Hekma agreement to close the external funding gap until FY 2025-2026

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