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The government is extending its land-for-FX scheme for another 6 months. PLUS: Avanz Capital is planning fresh investment in Egypt
The initiative is one of many the government has introduced in response to the FX crunch
Fitch expects net foreign liabilities in Egyptian banks to rise amid FX crunch
Net foreign liabilities in the banking sector hit a record high in June
Foreigners: You’ll need to pay for your residence permits in FX from Saturday
The new rules do not apply to those who are arriving in Egypt as tourists
Fully flexible exchange rate needed to counter pressure on EGP -IIF
The institute says devaluation works in the short term but isn’t sustainable
August was a record-breaking month (and not the good kind)
A series of currency devaluations has sent consumer prices surging this year
Every little bit helps
The CBE added another USD 50 mn to the stockpile during the month
Hassan Allam + Agility score EGP 1.5 bn CIB loan for Yanmu logistics park. PLUS: News from Volvo, MCV, Beltone, and NUCA
The 10-year loan from CIB will help fund the construction of a USD 100 mn logistics park east of Cairo
Net foreign liabilities narrow slightly in July
Banking’s foreign liabilities easing drove the deficit decline
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