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IMF cuts our 23-24 growth outlook amid FX crunch, MENA and Saudi outlooks also trimmed
Saudi and MENA growth outlooks are also cut in the latest update to the World Economic Outlook
Egyptian telecom providers suspend e-wallet FX payments
Four of Egypt’s largest banks are among those who have stopped use of EGP debit cards abroad this week
More banks have stopped the use of EGP debit cards outside the country
The National Bank of Egypt, Banque Misr, Emirates NBD, and National Bank of Kuwait have joined the growing list of…
House committees sign off on tax cut, expat car import scheme 2.0 + ADP Safaga port contract
President Abdel Fattah El Sisi last month directed the government to raise the income tax exemption threshold as part of…
Got an EGP account at CIB? You won’t be able be to use your debit card overseas
CIB follows, HSBC, AAIB and the Arab International Bank in curbing access to FX
Moody’s downgrades Egypt’s sovereign credit rating on rising debt fears
The rating agency downgraded the rating to Caa1 with a stable outlook, four notches above default
Egypt must devalue or risk “bleeding” reserves -IMF chief
Kristalina Georgieva suggests there could be news in the coming weeks on when we can expect a review of progress…
Two banks just stepped up overseas FX restrictions
Elab, Ethydco and EDC stake sales could happen by year’s end and ACUD is looking for a global advisor for…
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