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CBE needs USD 5 bn for orderly currency float -Goldman
Egypt is unlikely to obtain the amount of FX needed for an orderly deval, says the investment bank
El Sisi’s EGP comments dominate the airwaves
There will be no further EGP devaluation if it harms citizens, El Sisi suggested
Egypt submits BRICS membership bid -Russian official
BRICS membership could boost trade in currencies other than the USD
El Sisi says flexible exchange rate won’t come at Egyptians’ expense
“When the exchange rate is taking a toll on Egyptians, we don’t sit in place,” said El Sisi
India has not provided us with a credit line -El Moselhy
The government is looking into trade with India in INR, El Moselhy said
Inflation returns to acceleration in May
Food and beverage inflation rose to 60% y-o-y
THIS MORNING: IMF says talks are “encouraging,” expects progress within weeks on economic reform agenda
Positive signs on privatization and FX rate stability
Egypt’s debt problem in focus
Analysts say reform is the only way to get the country’s external debt on a sustainable trajectory
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