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Draft budget for the next fiscal year heads to the house
Good morning, friends. An unusually busy week in local business and economy news for Ramadan is ending how it began,…
EBRD working to unlock USD 1 bn from IMF, bank’s Egypt head tells Enterprise
“I think that European companies are underutilizing the potential of Egypt,” EBRD’s head of Egypt said
Banks’ capital adequacy ratio saw a minor decline in 2023
Non-performing loans to total loans edged down to 3% at the end of 2023 from 3.4% a year earlier
S&P upgrades Egypt’s credit outlook to positive
S&P also affirmed its B-/B rating for Egypt’s long- and short-term foreign and local currency sovereign credit.
World Bank pledges USD 6 bn financing package for Egypt
The funds will be split between the government and Egyptian private sector
In the wake of the EGP float, are universities reconsidering the cost of student exchange programs?
Study abroad programs are popular amongst Egyptian students, but prices surged in tandem with the depreciation of the EGP
EU pledges EUR 7.4 bn aid package for Egypt
The agreement aims to take Egypt’s relations with the EU “to the level of a strategic and comprehensive partnership”
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
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