{"id":570798,"date":"2020-04-15T04:32:18","date_gmt":"2020-04-15T04:32:18","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/?post_type=issue&#038;p=570798"},"modified":"2025-12-16T07:39:36","modified_gmt":"2025-12-16T07:39:36","slug":"covid-recession-will-be-worst-since-great-depression-imf-says-but-egypt-will-still-eke-out-growth","status":"publish","type":"issue","link":"https:\/\/enterpriseam.com\/egypt\/issues\/covid-recession-will-be-worst-since-great-depression-imf-says-but-egypt-will-still-eke-out-growth\/","title":{"rendered":"Covid recession will be worst since Great Depression, IMF says, but Egypt will still eke out growth."},"content":{"rendered":"<section id=\"570800\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">            <!-- Show divider before story section -->\r\n        <div \r\n            class=\"\r\n                story-section            \"\r\n            id=\"570800\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">1<\/div>\r\n\r\n                    <p class=\"f-graphik\">What We're Tracking Today<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2020\/04\/15\/what-were-tracking-on-15-april-2020\/\">\r\n                            What we\u2019re tracking on 15 April 2020                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2020\/04\/15\/what-were-tracking-on-15-april-2020\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); 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We have chapter and verse in this morning\u2019s Speed Round, below.<\/p><p><strong>Not enough for you? <\/strong>Scientists are pouring cold water on the notion of \u201cimmunity passports,\u201d saying <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2020-04-14\/do-coronavirus-survivors-have-immunity-from-reinfection-maybe?srnd=premium-middle-east&amp;sref=mmeFTDW1\">it\u2019s still an open question whether survivors of covid-19 are really immune<\/a>. The two key things that need to be sorted out: \u201cHow long do antibodies to SARS-CoV-2 remain in the body, and for how long do they prevent reinfection, if at all?\u201d<\/p><p>Oh, and the nice people at the New York Times\u2019 editorial board think <strong>the global crisis is going <\/strong><strong>to get \u201c<\/strong><strong><a href=\"https:\/\/www.nytimes.com\/2020\/04\/13\/opinion\/coronavirus-cases.html\">much, much worse<\/a><\/strong><strong>\u201d <\/strong>\u2014 a piece that isn\u2019t off-base in its worries, and that includes the board\u2019s first gratuitous swipe at Egypt in a while (you know, just to round things out).<\/p><p>That four-day long weekend? Can\u2019t come fast enough.<\/p><p>(<strong>Frivolous, momentary antidote to the stuff above: <\/strong>The night shift here at Enterprise is solidly Team Dog. But after we posted to our Slack this , the day shift (which is apparently Team Cat) insists you should all know about the <a href=\"https:\/\/twitter.com\/BlackHalt\/status\/1249344368819032064\">superiority of cats at navigating obstacles<\/a>.)<\/p><hr class=\"grey-line\"><p><strong>The outlook for markets today: <\/strong>Shares in Japan, China and Hong Kong opened the day in the red, with only South Korea bucking the trend. Futures point to a lower opening in the United States as well as in most European markets.<\/p><p><strong>The EGX30 closed up 1% yesterday<\/strong> in heavy trading, with shares worth EGP 1.5 bn changing hands, about 137% above the trailing 90-day average. The benchmark index is now down 25.1% for the year.<\/p><p><strong>COVID-19 IN EGYPT-<\/strong><\/p><p><a id=\"tldr-story-03\" class=\"content-anchor\"><\/a> <strong>Egypt now has 2,350 confirmed cases of covid-19<\/strong> after <a href=\"https:\/\/www.facebook.com\/egypt.mohp\/posts\/153507006199920?_rdc=1&amp;_rdr\">the Health Ministry reported<\/a> 160 new infections yesterday, the highest daily report of new cases here since the outbreak began. The ministry also said that another 14 people had died from the virus, taking the death toll to 178. We now have a total of 683 cases that have since tested negative for the virus after being hospitalized, of whom 514 have fully recovered. Statistics show that we have 21 positive cases for each 1 mn Egyptians, while the death rate is two per 1 mn, which is a lower ratio than most European countries, <a href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/1567559996755693?_rdc=1&amp;_rdr\">Health Minister Hala Zayed said<\/a>.<\/p><p><strong>The Health Ministry has launched its <\/strong><strong>Health of Egypt<\/strong><strong> app for Android.<\/strong> The app can alert users if they are approaching a location where there was previously a covid-19 patient, <a href=\"https:\/\/bit.ly\/3abQi5E\">according to a cabinet statement<\/a>. <strong>You can <\/strong><strong><a href=\"https:\/\/play.google.com\/store\/apps\/details?id=eg.com.eserve.sehatmisr&amp;fbclid=IwAR2H2hw_B98w0-CQFj2MHOhH7WJVnrwKIGo2kQyI9w-kcGGjuixKOi1Ri_M\">download the app here.<\/a><\/strong><\/p><p><strong>Authorities have sealed off a second village in Gharbia <\/strong>after 18 residents tested positive for covid-19 and one died. Saft Torab is just across the street from Al Hayatim, which was sealed off for two weeks last month, <a href=\"https:\/\/www.elwatannews.com\/news\/details\/4699277\">according to El Watan<\/a>.<\/p><p><strong>Egyptian research shows Avigan could be effective treatment for covid-19: <\/strong>Research conducted by Egypt\u2019s National Research Center is confirming suggestions that Japanese influenza med Avigan could be an effective treatment for the virus, director Mohamed Hashim said, <a href=\"https:\/\/bit.ly\/2K9qpZy\">according to Al Shoruouk<\/a>. Avigan is one of 70 meds the center has been testing for their impact on covid-19. Japanese Prime Minister Shinzo Abe has recently <a href=\"https:\/\/edition.cnn.com\/videos\/health\/2020\/04\/12\/japan-coronavirus-anti-flu-drug-abe-ripley-dnt-vpx.cnn\">promoted<\/a> Avigan, which was produced by the conglomerate Fujifilm, as a treatment for the virus.<\/p><p><strong>Two workers tested positive for covid-19 at Lecico Egypt\u2019s ceramic factory in Borg Al <\/strong><strong>Arab<\/strong>, prompting the company to close the facility for two weeks, <a href=\"https:\/\/www.egx.com.eg\/downloads\/Bulletins\/243815_3.pdf\">according to a disclosure (pdf)<\/a>. The company has also asked staff employed at the facility to self-isolate at home for the two-week period until operations resume.<\/p><p><strong>Mwasalat Misr, the provider of <\/strong><strong><a href=\"http:\/\/www.mwasalatmisr.com\/nweb\/en\/about\/\">higher end mass transport<\/a><\/strong><strong>, is seeking financial support <\/strong><strong>from the Public Transport Authority<\/strong>, saying that the nighttime curfew has pushed down demand for the company's bus services by 95%, CEO Hisham Taha said, <a href=\"https:\/\/alborsaanews.com\/2020\/04\/14\/1320729\">according to the local press<\/a>. The company has also scaled back its operations to one shift per day instead of two, Taha said.<\/p><p><strong>Car dealerships have proposed that newly sold cars be issued with temporary <\/strong><strong>commercial plates<\/strong> as <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/7108372e-9a45-4c6b-98ab-b8826e9ecd16\">the suspension on issuing licenses<\/a> hits the sector hard, <a href=\"https:\/\/bit.ly\/2XKOLkL\">Al Mal reports<\/a>.<\/p><p><strong>Work on the Grand Egyptian Museum is ongoing despite the covid-19 <\/strong><strong>restrictions<\/strong>, cabinet <a href=\"https:\/\/bit.ly\/3cjiOUx\">said<\/a>. The museum was due to open at the end of this year, but President Abdel Fattah El Sisi earlier this month <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/67e65b2d-4738-46d6-852d-324a0730f19f\">postponed its inauguration<\/a> to 2021 due to the pandemic.<\/p><p><strong>Hotel management companies chasing down receivables owed by local tour operators<\/strong>, having not received any payments since the end of December. Outstanding dues have by some estimates reached between EUR 500k and EUR 4 mn, according to sources operating in the Red Sea hospitality industry <a href=\"https:\/\/alborsaanews.com\/2020\/04\/14\/1320296\">who spoke with the local press<\/a>.<\/p><p><strong>Falak Startups is offering EGP 1 mn in direct investments and technical support to <\/strong><strong>help startups survive the crisis<\/strong>, <a href=\"https:\/\/disrupt-africa.com\/2020\/04\/egyptian-accelerator-offers-startups-63k-in-funding-to-help-them-survive-covid-19-crisis\/\">according to Disrupt Africa<\/a>. The Egypt-based accelerator is prioritizing startups in the fields of e-health, fintech, logistics, 3D printing, remote work and ed-tech by providing advice on running their businesses, raising finance and marketing, in addition to the funding.<\/p><p><strong>DONATIONS-<\/strong><\/p><p><strong>State raising funds to support day laborers: <\/strong>The government has launched a new platform, <a href=\"http:\/\/www.ahalena.gov.eg\/\">Ahalena<\/a>, through which businesses and individuals can donate to support day laborers, <a href=\"https:\/\/bit.ly\/34BA3gY\">according to a cabinet statement<\/a>. Donors will have the option of contributing funds online or via text.<\/p><p><strong>Orange Egypt set up full connectivity including 4G services to support patients and staff at a new 600-bed quarantine facility<\/strong> in cooperation with Ahl Misr Development Foundation, <a href=\"https:\/\/ent.news\/2020\/4\/Orange.pdf\">the company said in an emailed statement (pdf)<\/a>. The facility will be inaugurated in the coming days; Orange set up the entire connectivity project in less than 24 hours. Separately, Orange Egypt has enhanced connectivity at other covid-19 facilities to ensure that patients and medical staff can stay in contact with their families.<\/p><p><em><span style=\"text-decoration: underline;\"><strong>Correction:<\/strong><\/span> An earlier version of this story incorrectly suggested Orange Egypt had converted one of its own buildings into a facility. It has in fact worked with Ahl Misr on an entirely separate building, not one owned by Orange Egypt. We regret the error.<\/em><\/p><p><strong>The Federation of Egyptian Industries\u2019 cereals division has donated EGP 1 mn<\/strong> to the Tahya Misr Fund, <a href=\"http:\/\/gate.ahram.org.eg\/News\/2395829.aspx\">according to Ahram Gate<\/a>.<\/p><p><strong>Bank Audi Egypt has donated EGP 20 mn<\/strong> as part of the Federation of Egyptian Banks initiative to raise EGP 150 mn, <a href=\"https:\/\/bit.ly\/2XCpMzY\">according to Hapi Journal<\/a>.<\/p><p><strong>ON THE GLOBAL FRONT-<\/strong><\/p><p><strong>To re-open or not to re-open, that is the question: <\/strong>As some countries extend their lockdowns into May, others are (very) tentatively reopening their economies:<\/p><ul>\n<li><strong>Spain has begun to lift its draconian restrictions on movement<\/strong>, allowing some 300k non-key workers to return to their jobs. (<a href=\"https:\/\/edition.cnn.com\/2020\/04\/13\/europe\/spain-lockdown-covid-19-lockdown-eased-intl\/index.html\">CNN<\/a>)<\/li>\n<li><strong>Austria has allowed thousands of small shops to reopen<\/strong>, and a limited number of businesses have reopened in Italy outside of the north, which remains on full lockdown. (<a href=\"https:\/\/www.bbc.co.uk\/news\/world-europe-52275959\">BBC<\/a>)<\/li>\n<li><strong>France will remain in lockdown until 11 May<\/strong> after President Emmanuel Macron extended restrictions for another month. (<a href=\"https:\/\/www.france24.com\/en\/20200413-live-france-s-macron-makes-third-primetime-tv-address-on-covid-19-crisis\">France24<\/a>)<\/li>\n<li><strong>All 1.3 bn citizens of India will remain confined to their homes until 3 May<\/strong> after the government lengthened its initial 21-day lockdown. (<a href=\"https:\/\/news.sky.com\/story\/coronavirus-india-extends-lockdown-as-citizens-urged-to-follow-rules-with-full-devotion-11972862\">Sky News<\/a>)<\/li>\n<\/ul><p><strong>Saudi Arabia is scrambling to contain the virus in Mecca<\/strong>, where a large number of cases have cropped up as the infection spread among workers in dense labor camps, <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2020-04-14\/saudi-arabia-races-to-contain-epidemic-in-islam-s-holiest-city?srnd=premium-middle-east&amp;sref=mmeFTDW1\">Bloomberg<\/a> reports.<\/p><p><strong>The White House has suspended American funding to the World Health Organization<\/strong> while the US conducts a review of how the institution has responded to the coronavirus. <a href=\"https:\/\/www.cnbc.com\/2020\/04\/14\/trump-calls-for-halt-to-us-funding-for-world-health-organization-amid-coronavirus-outbreak.html\">The Donald says<\/a> the WHO made mistakes that \u201ccaused so much death.\u201d<\/p><p><strong>GLOBAL BUSINESS + ECON FALLOUT-<\/strong><\/p><p><a id=\"tldr-story-06\" class=\"content-anchor\"><\/a> <strong>MUST-READ- The always-on-point Mohamed El Erian suggests economists and markets <\/strong><strong>are still too <\/strong><strong>bullish. <\/strong>In a piece for the <a href=\"https:\/\/www.ft.com\/content\/acc0414e-527c-43e2-826b-c87ab1fa5f79\">Financial Times<\/a>, the markets sage suggests that while consensus is shifting from the early, optimistic view that we could see a V-shaped recovery to the more reasonable expectation of a big second quarter contraction followed by a gradual recovery, that\u2019s still too bullish. <strong>Optimists are underestimating the severity of the shutdown and the \u201cinherently messy\u201d recovery process.<\/strong> Unfortunately, that sounds just about right to us.<\/p><p><strong>US markets (surprisingly) were in the green <\/strong><strong>by closing<\/strong><strong> bell yesterday<\/strong>, despite dismal earnings reports from big banks. The uptick was buoyed by investor optimism that the economy reopening is on the horizon \u2014 and traders already knew banks would not be turning in handsome earnings reports, <a href=\"https:\/\/www.wsj.com\/articles\/global-stock-markets-dow-update-4-14-2020-11586839178\">the Wall Street Journal says<\/a>. The Dow Jones was up 2.4%, the S&amp;P 500 closed up 3.1%, and the Nasdaq was up 3.9%.<\/p><p><strong>The first three big outfits to report their 1Q2020 earnings and essentially quantify the <\/strong><strong>economic fallout<\/strong> from the covid-19 pandemic:<\/p><ul>\n<li><strong><a href=\"https:\/\/www08.wellsfargomedia.com\/assets\/pdf\/about\/investor-relations\/earnings\/first-quarter-2020-earnings.pdf\">Wells Fargo<\/a><\/strong><a href=\"https:\/\/www08.wellsfargomedia.com\/assets\/pdf\/about\/investor-relations\/earnings\/first-quarter-2020-earnings.pdf\">(pdf)<\/a> reported its first-quarter profits freefalling 89% to USD 653 mn, compared to USD 5.86 bn for the period last year. The bank has set aside bns to cover potential losses on loans to covid-hit borrowers.<\/li>\n<li><strong><a href=\"https:\/\/www.jpmorganchase.com\/corporate\/investor-relations\/document\/988066cc-7900-48d3-a71b-8b2693695741.pdf\">JPMorgan Chase<\/a><\/strong><a href=\"https:\/\/www.jpmorganchase.com\/corporate\/investor-relations\/document\/988066cc-7900-48d3-a71b-8b2693695741.pdf\">(pdf)<\/a> saw its 1Q2020 profits dropping 69%, which <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2020-04-14\/jpmorgan-profit-plunges-to-lowest-since-2013-on-virus-fallout?srnd=premium&amp;sref=mmeFTDW1\">Bloomberg notes<\/a> is its lowest in six years, citing surging credit costs. The decline in profits was offset to a certain degree by its trading business.<\/li>\n<li><strong><a href=\"https:\/\/johnsonandjohnson.gcs-web.com\/static-files\/3c1ac5b5-0cc4-4069-bb42-e5ddef71f6ce\">Johnson &amp; Johnson<\/a><\/strong><a href=\"https:\/\/johnsonandjohnson.gcs-web.com\/static-files\/3c1ac5b5-0cc4-4069-bb42-e5ddef71f6ce\">(pdf)<\/a> had a much better showing than banks, with profits shooting up on the back of over-the-counter sales spurred by covid-19. The healthcare company still adjusted its outlook for the rest of the year as its medical device sales took a hit.<\/li>\n<\/ul><hr class=\"grey-line\"><p><strong>Is venture capital bucking the trend of the economic downturn?<\/strong> 62 venture capital funds raised USD 21 bn in the US in 1Q2020 alone, according to a report by PitchBook and the National Venture Capital Association <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2020-04-14\/vc-firms-raised-21-billion-last-quarter-despite-pandemic-chaos?sref=mmeFTDW1\">carried by Bloomberg<\/a>. Success is uneven, however, with established funds faring much better than those new to the scene, and so-called megafunds making up about half of the total raised. VC investments in health related companies \u2014 including pharmaceuticals and biotech \u2014 are up at nearly USD 5.7 bn this year, and indicate the sector\u2019s growth as an investment area. They still fall behind total investments in software companies, however, which stand at USD 9.9 bn.<\/p><p><strong>US hedgies think they should qualify for small-business bailouts. <\/strong>We\u2019ll leave it to <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2020-04-14\/hedge-fund-managers-are-claiming-bailouts-as-small-businesses?srnd=premium-middle-east&amp;sref=mmeFTDW1\">Bloomberg<\/a>: \u201cIronically, hedge funds are designed to employ as few people as possible so star traders don\u2019t have to share millions of dollars in fees. The industry gets its name from the premise it can generate gains even when markets fall.\u201d<\/p><p><strong>The Kuwait Stock Exchange\u2019s share listing has been postponed<\/strong> due to government restrictions on work hours, <a href=\"https:\/\/www.kuna.net.kw\/ArticleDetails.aspx?id=2885802&amp;Language=en\">according to Kuwait News Agency<\/a>. Shares were initially scheduled to be listed on 19 April but have been postponed due to the \u201cextraordinary circumstances\u201d caused by the coronavirus.<\/p><p><strong>Airline passenger revenues will plunge 55% in 2020<\/strong> if domestic flight restrictions are maintained for three months and some international flights are suspended beyond this period, according to <a href=\"https:\/\/www.iata.org\/en\/pressroom\/pr\/2020-04-14-01\/\">figures released yesterday<\/a> by the International Air Transport Association (IATA). This equates to USD 314 bn in lost revenue for airlines around the world. The IATA <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/a0829d8b-8d1e-4c2f-ae88-d68e1ee3e4ff\">warned that Egypt\u2019s airlines<\/a> could lose USD 1.6 bn in revenues earlier this month.<\/p><hr class=\"grey-line\"><p><strong>The Saudis are keeping their taps open until the OPEC agreement kicks in next month,<\/strong> swelling stockpiles for at least two more weeks, <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2020-04-14\/saudis-set-to-pump-at-will-until-may-as-oil-inventories-swell?sref=mmeFTDW1\">according to Bloomberg<\/a>. The kingdom exported 9.3 mn barrels a day in April so far and still has 10 supertankers with 20 mn barrels in pre-loading at a Saudi port signalling they were not bluffing when Aramco pledged to bring crude production to 12.3 mn barrels a day. Saudi should, however, cut production to 8.5 mn barrels in May and June as per an OPEC+ agreement signed earlier this week.<\/p><p class=\"web-image\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2020\/1\/Web-view-01.jpg?ssl=1\" alt=\"enterprise\"><\/p><p><strong>*** It\u2019s Hardhat day \u2014 your weekly briefing of all things infrastructure in Egypt:<\/strong> Enterprise\u2019s industry vertical focuses each Wednesday on infrastructure, covering everything from energy, water, transportation, urban development and even social infrastructure such as health and education.<\/p><p><strong>In today\u2019s issue:<\/strong> We look at why Egypt\u2019s ports haven\u2019t seen a decline in activity despite the drop in global trade brought on by covid-19.<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n    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class=\"issue-section__content\">\n<div class=\"stories\">            <!-- Show divider before story section -->\r\n        <div \r\n            class=\"\r\n                story-section            \"\r\n            id=\"570802\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">2<\/div>\r\n\r\n                    <p class=\"f-graphik\">Enterprise+: Last Night\u2019s Talk Shows<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2020\/04\/15\/police-raid-in-al-amiriya-leads-the-conversation-on-egypts-talk-shows\/\">\r\n                            Police raid in Al Amiriya leads the conversation on Egypt\u2019s talk shows                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" 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         <a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/shareArticle?mini=true&url=https:\/\/enterpriseam.com\/egypt\/2020\/04\/15\/police-raid-in-al-amiriya-leads-the-conversation-on-egypts-talk-shows\/&title=Police raid in Al Amiriya leads the conversation on Egypt\u2019s talk shows\">\n                    LinkedIn                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/linkedin-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/api.whatsapp.com\/send?text=Police+raid+in+Al+Amiriya+leads+the+conversation+on+Egypt%E2%80%99s+talk+shows+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2020%2F04%2F15%2Fpolice-raid-in-al-amiriya-leads-the-conversation-on-egypts-talk-shows%2F\">\n                    WhatsApp                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/whatsapp-icon.svg\" alt=\"\"> -->\n                <\/a>\n           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yesterday in leading with coverage of a<\/strong><strong> police raid in Al Amiriya<\/strong> that left one policeman and seven terrorists dead.<\/p>\n<p><strong>The raid lasted around four hours<\/strong> and came after security forces said they had gathered intelligence that the terrorists were plotting attacks on Christian worshippers gathering for Coptic Easter this weekend, Masaa DMC\u2019s Ramy Radwan said.<\/p>\n<p><strong>Radwan aired footage of the shootout that appears to have been recorded by civilians living in the area<\/strong> (<a href=\"https:\/\/www.youtube.com\/watch?v=lL1mmf13TGg\">watch, runtime: 8:14<\/a>). Al Hayah Al Youm\u2019s Lobna Assal (<a href=\"https:\/\/www.youtube.com\/watch?v=118FUTBM4t4\">watch, runtime: 2:12<\/a>), Min Masr\u2019s Reham Ibrahim (<a href=\"https:\/\/www.youtube.com\/watch?v=MhrtDkCrQYI\">watch, runtime: 0:25<\/a>) and Min Masr\u2019s Sherif Amer (<a href=\"https:\/\/www.youtube.com\/watch?v=xm234JQKXQk\">watch, runtime: 2:38<\/a>) all had coverage.<\/p>\n<p><strong>Easter, Ramadan could make or break Egypt\u2019s covid-19 curve:<\/strong> The curve of covid-19 infections is beginning to flatten out in the Middle East as a whole, but some countries were able to contain the virus\u2019 spread before reaching staggering infection numbers by sticking to physical distancing and isolation measures, World Health Organization Regional Adviser Maha Talaat told Amer. With that in mind, Talaat urged viewers to resist the urge to attend large social gatherings during Easter, Sham El Nessim, and Ramadan, which she noted could completely change the trajectory of infections in Egypt (<a href=\"https:\/\/www.youtube.com\/watch?v=1gsZAVub0HE\">watch, runtime: 9:26<\/a>).<\/p>\n<p><strong>Look at weekly, not daily figures for a better sense of what our curve currently looks like<\/strong>, Talaat told Amer. Speaking of which: Assal and Radwan each recapped the Health Ministry\u2019s daily tally of new cases (<a href=\"https:\/\/www.youtube.com\/watch?v=dx8WT3QJKQQ\">watch, runtime: 1:11<\/a> and <a href=\"https:\/\/www.youtube.com\/watch?v=T4tj_NNW6lI\">runtime: 15:54<\/a>).<\/p>\n<p><strong>The Great Purge of Kramers from the country\u2019s subsidy rolls has saved state coffers some EGP 5 bn<\/strong> after having removed 10 mn alleged welfare cheats from total of 80 mn subsidy recipients, Supply Minister Ali El Moselhy told \u2018Ala Mas\u2019ouleety\u2019s Ahmed Moussa. The subsidy rolls are now \u201cthe most precise\u201d they have ever been and have become properly centralized to avoid duplicate data in the future, El Moselhy said (<a href=\"https:\/\/www.youtube.com\/watch?v=7yvMdf8YL3c\">watch, runtime: 5:05<\/a>).<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/ali-el-moselhy\/\">Ali El Moselhy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/covid-19\/\">covid-19<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/enterprise-last-nights-talk-shows\/\">Enterprise+: Last Night\u2019s Talk Shows<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/maha-talaat\/\">Maha Talaat<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/national-security\/\">national security<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/subsidies\/\">subsidies<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/supply-ministry\/\">Supply Ministry<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/terrorism\/\">terrorism<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/world-health-organization\/\">World Health Organization<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"570803\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">            <!-- Show divider before story section -->\r\n        <div \r\n            class=\"\r\n                story-section            \"\r\n            id=\"570803\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">3<\/div>\r\n\r\n                    <p class=\"f-graphik\">Speed Round<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2020\/04\/15\/the-coronavirus-will-trigger-the-worst-global-recession-since-the-great-depression-in-mena-only-egypts-economy-will-grow-this-year-imf\/\">\r\n                            The coronavirus will trigger the worst global recession since the Great Depression; in MENA, only Egypt\u2019s economy will grow this year \u2013IMF                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2020\/04\/15\/the-coronavirus-will-trigger-the-worst-global-recession-since-the-great-depression-in-mena-only-egypts-economy-will-grow-this-year-imf\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); 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in MENA, only Egypt\u2019s economy will grow this year \u2013IMF&url=https:\/\/enterpriseam.com\/egypt\/2020\/04\/15\/the-coronavirus-will-trigger-the-worst-global-recession-since-the-great-depression-in-mena-only-egypts-economy-will-grow-this-year-imf\/\">\n                    X                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/twitter-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/shareArticle?mini=true&url=https:\/\/enterpriseam.com\/egypt\/2020\/04\/15\/the-coronavirus-will-trigger-the-worst-global-recession-since-the-great-depression-in-mena-only-egypts-economy-will-grow-this-year-imf\/&title=The coronavirus will trigger the worst global recession since the Great Depression; in MENA, only Egypt\u2019s economy will grow this year \u2013IMF\">\n                    LinkedIn                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/linkedin-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/api.whatsapp.com\/send?text=The+coronavirus+will+trigger+the+worst+global+recession+since+the+Great+Depression%3B+in+MENA%2C+only+Egypt%E2%80%99s+economy+will+grow+this+year+%E2%80%93IMF+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2020%2F04%2F15%2Fthe-coronavirus-will-trigger-the-worst-global-recession-since-the-great-depression-in-mena-only-egypts-economy-will-grow-this-year-imf%2F\">\n                    WhatsApp                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/whatsapp-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n        <\/ul>\n    <\/div>\n        <\/div>\r\n                    \r\n                <\/div>\r\n\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2020\/04\/15\/the-coronavirus-will-trigger-the-worst-global-recession-since-the-great-depression-in-mena-only-egypts-economy-will-grow-this-year-imf\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2020\/4\/138.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"570804\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2020\/04\/15\/the-coronavirus-will-trigger-the-worst-global-recession-since-the-great-depression-in-mena-only-egypts-economy-will-grow-this-year-imf\/138-jpg-15\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2020\/4\/138.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"138.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2020\/4\/138.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2020\/4\/138.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-570803\" class=\"content-area-description single-story post-570803 post type-post status-publish format-standard has-post-thumbnail hentry category-speed-round tag-covid-19 tag-economy tag-employment tag-enterpriseam tag-gdp tag-great-depression tag-imf tag-inflation tag-speed-round wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><a id=\"tldr-story-01\" class=\"content-anchor\"><\/a> <strong>The coronavirus will trigger the worst global recession since the Great Depression, the <\/strong><strong>IMF predicts:<\/strong> The world is facing its greatest economic crisis since the Great Depression as output plummets at a record pace in response to the \u201cGreat Lockdown\u201d put in place to contain covid-19, <a href=\"https:\/\/www.imf.org\/en\/Publications\/WEO\/Issues\/2020\/04\/14\/weo-april-2020\">the IMF warned yesterday<\/a>.<\/p>\n<p><strong><a href=\"https:\/\/ent.news\/2020\/4\/text-1.pdf\">Tap \/ click here for the full report (pdf)<\/a><\/strong><strong>.<\/strong><\/p>\n<p><strong>The global economy will contract by 3% this year<\/strong>\u00a0as the loss of output \u201cdwarfs\u201d that seen during the 2007-08 financial crisis, the lender said in its first World Economic Outlook since the onset of the pandemic. In the report published ahead of the IMF\/World Bank Spring Meetings this weekend, IMF chief economist Gita Gopinath described the situation as \u201ca crisis like no other,\u201d and said that the outlook had changed \u201cdramatically\u201d since January, when the fund had <a href=\"https:\/\/www.imf.org\/en\/Publications\/WEO\/Issues\/2020\/01\/20\/weo-update-january2020\">forecast 3.3% growth this year<\/a>.<\/p>\n<p><strong>Advanced economies will bear the brunt of the downturn:<\/strong> Growth in advanced economies will contract by a stunning 6.1% this year before recovering to 4.5% growth next year. Emerging economies will see a milder 1% contraction \u2014 with India and China both remaining in positive territory \u2014 before growth surges at a 6.6% clip in 2021.<\/p>\n<p><strong>A sharp recovery clouded by uncertainty:<\/strong> The IMF sees the global economy returning to growth in 2021 and expanding by 2.4% but warns that there is \u201cextreme uncertainty\u201d about the forecast, likening the situation to a \u201cwar or a political crisis\u201d that is almost impossible to predict.<\/p>\n<p><strong>How does Egypt fare in all this?<\/strong><\/p>\n<p><strong>GDP growth will slow, but Egypt will be the only country in the region to see its economy <\/strong><strong>expand: <\/strong>The fund now projects GDP to grow at a 2% clip this year before accelerating slightly to 2.8% in 2021. The IMF\u2019s projections for 2020 represent a 64% decline in growth compared to 2019, when the economy expanded by 5.6%. The government has left unchanged (for now) its expectations for 4.5% growth in the upcoming 2020-2021 fiscal year, saying in <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/c0557143-d132-4f80-a888-edd3c67085c5\">the draft of its upcoming budget earlier this week<\/a> that it will revisit projections as the impact of covid-19 on the domestic economy becomes clear.<\/p>\n<p><strong>Inflation will remain under control:<\/strong> Annual price growth will continue to remain within the Central Bank of Egypt\u2019s 9% (+\/-3%) target range until the end of 2021. Inflation will average 5.9% in 2020 before creeping up to 8.2% through 2021, according to the lender\u2019s estimates.<\/p>\n<p><strong>Current account deficit to widen:<\/strong> Egypt\u2019s current account deficit is expected to widen further over the coming two years, reaching 4.3% of GDP in 2020 and 4.5% the year after. Egypt recorded a 3.6% deficit in 2019.<\/p>\n<p><strong>The unemployment rate is projected to rise<\/strong> from 8.6% last year to 10.3% in 2020 and 11.6% the year after.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/covid-19\/\">covid-19<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/economy\/\">economy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/employment\/\">employment<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/gdp\/\">GDP<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/great-depression\/\">Great Depression<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/imf\/\">IMF<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/inflation\/\">inflation<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/speed-round\/\">SPEED ROUND<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"570813\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"570814\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">            <!-- Show divider before story section -->\r\n        <div \r\n            class=\"\r\n                story-section            \"\r\n            id=\"570814\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">4<\/div>\r\n\r\n                    <p class=\"f-graphik\">THE MACRO PICTURE<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2020\/04\/15\/imf-waives-usd-214-mn-in-debt-to-developing-countries-to-repurpose-funds-for-covid-19\/\">\r\n                            IMF waives USD 214 mn in debt to developing countries to repurpose funds for covid-19                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2020\/04\/15\/imf-waives-usd-214-mn-in-debt-to-developing-countries-to-repurpose-funds-for-covid-19\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); 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This allows the countries \u2014 which <a href=\"https:\/\/www.ibtimes.sg\/imf-announces-debt-relief-25-countries-here-list-nations-receiving-funds-43002\">are located<\/a> in sub-Saharan Africa, Asia, and the Caribbean \u2014 to use a combined USD 214 mn to combat covid-19, according to calculations by UK charity Jubilee Debt Campaign <a href=\"https:\/\/www.ft.com\/content\/c384ed59-1ca3-476f-9b89-eaf5cf31e42c\">cited by the Financial Times<\/a>. This comes ahead of the IMF and World Bank\u2019s Spring Meetings this weekend, where G20 ministers <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/02e22b46-0440-4a80-add8-52b4f0aa0e8f\">are expected to approve<\/a> a short-term debt moratorium for emerging economies.<\/p>\n<p><strong>Countries are lining up for bailout money: <\/strong>The IMF has so far signed off on USD 3.4 bn in anti covid-19 facilities to 12 countries in sub-Saharan Africa and eastern Europe, and there are six other pending requests, including from Nigeria, Pakistan and Columbia, according to the FT. Those funds come from an IMF \/ World Bank USD 260 bn emergency fund that can be deployed to countries eligible for support from the World Bank\u2019s International Development Association.<\/p>\n<p><strong>The jury is out on what the fund should do: <\/strong>If the IMF promptly lends emerging countries, this risks further driving away foreign portfolio inflows to EMs by crowding out private investors, who would be brought to expect losses in case of sovereign defaults, economist Tobias Krahnke writes in a column for the Centre for Economic Policy Research\u2019s <a href=\"https:\/\/voxeu.org\/users\/tkrahnke-0\">policy portal Vox<\/a>. Foreign investors have already pulled a <a href=\"https:\/\/www.wsj.com\/articles\/emerging-markets-need-a-better-safety-net-it-already-exists-11586441942\">record USD 83 bn<\/a> from emerging markets in March in a global risk-off, leading to a debate on what the IMF should do in case countries go looking for other sources of finance. In effect, it is \u201cnot whether the IMF has sufficient resources for large-scale financial assistance to all of its members in need, but that such assistance would ultimately be counterproductive,\u201d says Krahnke.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/covid-19\/\">covid-19<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/the-macro-picture\/\">THE MACRO PICTURE<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"570816\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">            <!-- Show divider before story section -->\r\n        <div \r\n            class=\"\r\n                story-section            \"\r\n            id=\"570816\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">5<\/div>\r\n\r\n                    <p class=\"f-graphik\">EGYPT IN THE NEWS<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2020\/04\/15\/egypt-in-the-news-on-15-april-2020\/\">\r\n                            Egypt in the news on 15 April 2020                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" 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href=\"https:\/\/www.linkedin.com\/shareArticle?mini=true&url=https:\/\/enterpriseam.com\/egypt\/2020\/04\/15\/egypt-in-the-news-on-15-april-2020\/&title=Egypt in the news on 15 April 2020\">\n                    LinkedIn                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/linkedin-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/api.whatsapp.com\/send?text=Egypt+in+the+news+on+15+April+2020+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2020%2F04%2F15%2Fegypt-in-the-news-on-15-april-2020%2F\">\n                    WhatsApp                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/whatsapp-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n        <\/ul>\n    <\/div>\n        <\/div>\r\n                    \r\n                <\/div>\r\n\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2020\/04\/15\/egypt-in-the-news-on-15-april-2020\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-570816\" class=\"content-area-description single-story post-570816 post type-post status-publish format-standard hentry category-egypt-in-the-news tag-covid-19 tag-egypt-in-the-news tag-enterpriseam tag-national-security tag-terrorism wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>Topping coverage of Egypt in the foreign press this morning is wire pickups of <\/strong><strong>yesterday\u2019s shootout<\/strong> between police forces and suspected terrorists in Cairo\u2019s Al Amiriya. <a href=\"https:\/\/af.reuters.com\/article\/egyptNews\/idAFL5N2C26CY\">Reuters<\/a>, <a href=\"https:\/\/www.i24news.tv\/en\/news\/international\/middle-east\/1586894258-egypt-police-raid-suspected-terrorist-cell-one-officer-killed\">AFP<\/a>, and the <a href=\"https:\/\/www.660citynews.com\/2020\/04\/14\/egypt-police-kill-7-suspected-militants-in-cairo-suburb\/\">Associated Press<\/a> all had the story.<\/p>\n<p>Other stories to skim:<\/p>\n<ul>\n<li><strong><a href=\"https:\/\/www.thenational.ae\/world\/mena\/coronavirus-crisis-reveals-what-s-really-important-to-egyptian-society-1.1005668\">The National<\/a><\/strong><strong> looks at how Cairenes are coping with the semi-lockdown<\/strong>, including through charitable acts.<\/li>\n<li><strong>Egypt reopened the Rafah Crossing border with the Gaza Strip after nearly three <\/strong><strong>weeks<\/strong> to allow for the return of 2k Palestinians stranded from Egypt, <a href=\"https:\/\/apnews.com\/eaa64c0ccaccbd0c1343a61c9af2bc91\">according to The Associated Press<\/a>.<\/li>\n<\/ul>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/covid-19\/\">covid-19<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/egypt-in-the-news\/\">Egypt in the News<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/national-security\/\">national security<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/terrorism\/\">terrorism<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"570817\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">            <!-- Show divider before story section -->\r\n        <div \r\n            class=\"\r\n                story-section            \"\r\n            id=\"570817\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">6<\/div>\r\n\r\n                    <p class=\"f-graphik\">Worth watching<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2020\/04\/15\/can-africa-imitate-chinas-rapid-development\/\">\r\n                            Can Africa imitate China\u2019s rapid development?                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2020\/04\/15\/can-africa-imitate-chinas-rapid-development\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); navigator.clipboard.writeText('https:\/\/enterpriseam.com\/egypt\/2020\/04\/15\/can-africa-imitate-chinas-rapid-development\/')\">\n                    Copy Link                <\/a>\n\n            <\/li>\n            <li 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          <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2020\/04\/15\/can-africa-imitate-chinas-rapid-development\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2020\/4\/141.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"570818\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2020\/04\/15\/can-africa-imitate-chinas-rapid-development\/141-jpg-10\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2020\/4\/141.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"141.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2020\/4\/141.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2020\/4\/141.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-570817\" class=\"content-area-description single-story post-570817 post type-post status-publish format-standard has-post-thumbnail hentry category-worth-watching tag-africa tag-agriculture tag-china tag-development tag-education tag-enterpriseam tag-gdp tag-industry tag-population-growth tag-technology tag-worth-watching wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>Can Africa imitate China\u2019s rapid development?<\/strong> Africa could harness its manpower and natural resources to generate massive economic growth, the Economist reports (<a href=\"https:\/\/www.youtube.com\/watch?v=p8fl-u1UMVA\">watch, runtime: 15:36<\/a>). Among the options on the table: rapid industrialization (like China) or by investment in services such as IT and \u201c<a href=\"https:\/\/www.wider.unu.edu\/project\/industries-without-smokestacks\">industries without smokestacks<\/a>,\u201d such as horticulture.<\/p>\n<p>Either way, <strong>African countries will need to prioritize technology,<\/strong> improving infrastructure and reducing the impact of climate change, <strong>as well as good governance, job creation, and girls\u2019 education.<\/strong> Modernizing farming \u2014 an industry that generates only 15% of Africa\u2019s GDP, despite being the source of employment for half the continent \u2014 would increase yields, helping to feed rising populations and freeing workers to seek better paying city jobs. Better educated women would have fewer children, stabilizing population growth. And if women entered the workforce at the same rate as men, Africa could add 10% to its GDP over the next five years.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/africa\/\">Africa<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/agriculture\/\">agriculture<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/china\/\">China<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/development\/\">development<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/education\/\">Education<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/gdp\/\">GDP<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/industry\/\">industry<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/population-growth\/\">population growth<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/technology\/\">technology<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/worth-watching\/\">worth watching<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"570822\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">            <!-- Show divider before story section -->\r\n        <div \r\n            class=\"\r\n                story-section            \"\r\n            id=\"570822\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">7<\/div>\r\n\r\n                    <p class=\"f-graphik\">The Market Yesterday<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2020\/04\/15\/the-market-yesterday-73\/\">\r\n                            The Market Yesterday                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2020\/04\/15\/the-market-yesterday-73\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); navigator.clipboard.writeText('https:\/\/enterpriseam.com\/egypt\/2020\/04\/15\/the-market-yesterday-73\/')\">\n                    Copy Link                <\/a>\n\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https:\/\/enterpriseam.com\/egypt\/2020\/04\/15\/the-market-yesterday-73\/\">\n                    Facebook                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/facebook-icon2.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/x.com\/intent\/post?text=The Market Yesterday&url=https:\/\/enterpriseam.com\/egypt\/2020\/04\/15\/the-market-yesterday-73\/\">\n                    X                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/twitter-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/shareArticle?mini=true&url=https:\/\/enterpriseam.com\/egypt\/2020\/04\/15\/the-market-yesterday-73\/&title=The Market Yesterday\">\n                    LinkedIn                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/linkedin-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/api.whatsapp.com\/send?text=The+Market+Yesterday+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2020%2F04%2F15%2Fthe-market-yesterday-73%2F\">\n                    WhatsApp                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/whatsapp-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n        <\/ul>\n    <\/div>\n        <\/div>\r\n                    \r\n                <\/div>\r\n\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2020\/04\/15\/the-market-yesterday-73\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-570822\" class=\"content-area-description single-story post-570822 post type-post status-publish format-standard hentry category-the-market-yesterday tag-enterpriseam tag-the-market-yesterday wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><p><strong>EGP \/ USD CBE market average: <\/strong>Buy 15.69 | Sell 15.79<\/p>\n<p> <strong>EGP \/ USD at CIB:<\/strong> Buy 15.70 | Sell 15.80<br \/>\n <strong>EGP \/ USD at NBE: <\/strong>Buy 15.68 | Sell 15.78<\/p>\n<p><strong>EGX30<\/strong> (Tuesday): 10,458 (+1.0%)<br \/>\n <strong>Turnover:<\/strong> EGP 1.5 bn (137% above the 90-day average)<br \/>\n <strong>EGX 30 year-to-date<\/strong>: -25.1%<\/p>\n<p><strong>THE MARKET ON TUESDAY:<\/strong> The EGX30 ended Tuesday\u2019s session up 1.0%. CIB, the index\u2019s heaviest constituent, ended flat. EGX30\u2019s top performing constituents were Dice up 7.5%, Heliopolis Housing up 6.8%, and Orascom Development Egypt up 5.2%. Yesterday\u2019s worst performing stock was Egyptian Resorts down 1.8%. The market turnover was EGP 1.5 bn, and domestic investors were the sole net buyers.<\/p>\n<p><strong>Foreigners<\/strong>: Net Short | EGP -717.7 mn<br \/>\n <strong>Regional<\/strong>: Net Short | EGP -4.70 mn<br \/>\n <strong>Domestic<\/strong>: Net Long | EGP +722.4 mn<\/p>\n<p><strong>Retail<\/strong>: 40.1% of total trades | 41.3% of buyers | 38.9% of sellers<br \/>\n <strong>Institutions<\/strong>: 59.9% of total trades | 48.7% of buyers | 61.1% of sellers<\/p>\n<p><strong>WTI:<\/strong> USD 20.86 (+3.73%)<br \/>\n <strong>Brent:<\/strong> USD 29.60 (-6.74%)<\/p>\n<p><strong>Natural Gas<\/strong> (Nymex, futures prices) USD 1.64 MMBtu, (-0.67%, May 2020 contract)<br \/>\n <strong>Gold:<\/strong> USD 1,749.90 \/ troy ounce (-1.70%)<\/p>\n<p><strong>TASI:<\/strong> 6,874.64 (+1.03%) (YTD: -18.05%)<br \/>\n <strong>ADX:<\/strong> 4,178.70 (+1.05%) (YTD: -17.67%)<br \/>\n <strong>DFM:<\/strong> 1,939.72 (+2.89%) (YTD: -29.84%)<br \/>\n <strong>KSE Premier Market:<\/strong> 5,236.59 (+4.15%)<br \/>\n <strong>QE:<\/strong> 8,929.66 (+1.09%) (YTD: -14.35%)<br \/>\n <strong>MSM:<\/strong> 3,602.54 (+1.70%) (YTD: -9.51%)<br \/>\n <strong>BB: <\/strong>1,307.58 (+1.76%) (YTD: -18.79%)<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/the-market-yesterday\/\">The Market Yesterday<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"570823\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">            <!-- Show divider before story section -->\r\n        <div \r\n            class=\"\r\n                story-section            \"\r\n            id=\"calendar\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2020\/04\/15\/570823\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-570823\" class=\"content-area-description single-story post-570823 post type-post status-publish format-standard hentry category-calendar wpautop entry\">\n\n\t\t\t<hr class=\"wp-block-separator has-text-color has-primary-color has-alpha-channel-opacity has-primary-background-color has-background is-style-wide\">\n\n\t\t<h2 class=\"wp-block-heading mt-0 has-primary-color has-text-color has-link-color has-normal-font-size\" style=\"padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px\">\n\t\t\t<strong> CALENDAR<\/strong>\n\t\t<\/h2>\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p>16 April (Thursday): New deadline for individuals to file their tax returns to the Egyptian Tax Authority.<\/p>\n<p>17-19 April (Friday-Sunday): IMF, World Bank will hold virtual Spring Meetings.<\/p>\n<p>19 April (Sunday): <a href=\"https:\/\/ent.news\/2020\/2\/%D8%A7%D8%B1%D8%A7%D8%A8%D9%8A%D8%A7-24-2-2020.pdf\">Court session for Arabia Investments Holdings\u2019<\/a> <a href=\"https:\/\/almalnews.com\/%d8%aa%d8%a3%d8%ac%d9%8a%d9%84-%d8%af%d8%b9%d9%88%d9%89-%d8%a7%d9%84%d8%b9%d8%b1%d8%a8%d9%8a%d8%a9-%d9%84%d9%84%d8%a7%d8%b3%d8%aa%d8%ab%d9%85%d8%a7%d8%b1%d8%a7%d8%aa-%d8%b6%d8%af-%d8%a8%d9%8a%d8%ac-6\/\">lawsuit against Peugeot<\/a>.<\/p>\n<p>19 April (Sunday): Coptic Easter Sunday, national holiday.<\/p>\n<p>20 April (Monday): Sham El Nessim, national holiday.<\/p>\n<p>23 April (Thursday): First day of Ramadan (TBC).<\/p>\n<p>23 April (Thursday): Earliest date on which suspension K-12 and university instruction is set to be lifted.<\/p>\n<p>23 April (Thursday): Suspension of international flights to \/ from Egypt expires.<\/p>\n<p>23 April (Thursday): Earliest date by which restaurants, gyms, nightclubs, museums and archaeological sites will reopen.<\/p>\n<p>25 April (Saturday): Sinai Liberation Day, national holiday.<\/p>\n<p>28-29 April (Tuesday-Wednesday): US Federal Open Market Committee will hold its two-day policy meeting to review the interest rate.<\/p>\n<p>29 April (Sunday): House of Representatives covid-19 recess ends.<\/p>\n<p>5-7 May (Tuesday-Thursday): <a href=\"https:\/\/www.afsic.net\/\">AFSIC - Investing in Africa<\/a>, London, United Kingdom.<\/p>\n<p>14 May (Thursday): The CBE\u2019s Monetary Policy Committee will meet to review interest rates.<\/p>\n<p>23 May (Saturday): An administrative court will look into an appeal by steel rolling mills to overturn a government\u2019s decision to place import tariffs on steel rebar and iron billets. The hearing <a href=\"http:\/\/bit.ly\/32gKHbU\">was postponed<\/a> from 22 February 2020.<\/p>\n<p>23-26 May (Saturday-Tuesday): Eid El Fitr (TBC).<\/p>\n<p>June: <a href=\"https:\/\/www.facebook.com\/CEconomySummit\/\">Circular Economy Summit<\/a>, Egypt, venue TBA.<\/p>\n<p>4-6 June (Thursday-Saturday): <a href=\"https:\/\/sommetafriquefrance202a0.org\/en\/\">2020 Africa-France Summit<\/a>, Bordeaux, France.<\/p>\n<p>9-10 June (Tuesday-Wednesday): US Federal Open Market Committee will hold its two-day policy meeting to review the interest rate.<\/p>\n<p>17-20 June (Wednesday-Saturday): <a href=\"https:\/\/www.automech-formula.com\/en\/home.html\">2019 Automech Formula car expo<\/a>, Egypt International Exhibition Center, Cairo.<\/p>\n<p>30 June (Sunday): June 2013 protests anniversary, national holiday.<\/p>\n<p>25 June (Thursday): The CBE\u2019s Monetary Policy Committee will meet to review interest rates.<\/p>\n<p>28-29 July (Tuesday-Wednesday): US Federal Open Market Committee will hold its two-day policy meeting to review the interest rate.<\/p>\n<p>30 July-3 August (Thursday-Monday): Eid El Adha (TBC), national holiday.<\/p>\n<p>13 August (Thursday): The CBE\u2019s Monetary Policy Committee will meet to review interest rates.<\/p>\n<p>20 August (Wednesday-Thursday): Islamic New Year (TBC), national holiday.<\/p>\n<p>15-16 September (Tuesday-Wednesday): US Federal Open Market Committee will hold its two-day policy meeting to review the interest rate.<\/p>\n<p>24 September (Thursday): The CBE\u2019s Monetary Policy Committee will meet to review interest rates.<\/p>\n<p>24 September- 2 October (Thursday-Friday): <a href=\"http:\/\/elgounafilmfestival.com\/\">El Gouna Film Festival<\/a>, El Gouna, Egypt.<\/p>\n<p>6 October (Tuesday): Armed Forces Day, national holiday.<\/p>\n<p>29 October (Thursday): Prophet Mohamed\u2019s birthday (TBC), national holiday.<\/p>\n<p>November: Egypt <a href=\"http:\/\/gate.ahram.org.eg\/News\/2284801.aspx\">will host simultaneously<\/a> the International Capital Market Association\u2019s emerging market, and Africa and Middle East meetings.<\/p>\n<p>4-5 November (Tuesday-Wednesday): US Federal Open Market Committee will hold its two-day policy meeting to review the interest rate.<\/p>\n<p>12 November (Thursday): The CBE\u2019s Monetary Policy Committee will meet to review interest rates.<\/p>\n<p>15-16 December (Tuesday-Wednesday): US Federal Open Market Committee will hold its two-day policy meeting to review the interest rate.<\/p>\n<p>24 December (Thursday): The CBE\u2019s Monetary Policy Committee will meet to review interest rates.<\/p>\n<p>25 December (Friday): Western Christmas.<\/p>\n<p>1 January 2021 (Friday): New Year\u2019s Day, national holiday.<\/p>\n<p>7 January 2021 (Thursday): Coptic Christmas, national holiday.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n","protected":false},"excerpt":{"rendered":"","protected":false},"featured_media":570799,"menu_order":0,"template":"","categories":[],"tags":[],"class_list":["post-570798","issue","type-issue","status-publish","has-post-thumbnail","hentry","wpautop","entry"],"acf":{"mongo_id":"9c6e9648-386a-4721-91df-21094720c5ea","teaser":"","photo_url":"https:\/\/ent.news\/2020\/4\/136.jpg"},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - 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