{"id":566301,"date":"2021-06-10T13:29:15","date_gmt":"2021-06-10T13:29:15","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2021\/06\/10\/tonight-egypts-annual-headline-inflation-reaches-4-8-in-may-kenya-uganda-and-tanzania-seek-usd-16-bn-for-post-covid-recovery-also-ecb-to-set-monetary-policy-today\/"},"modified":"2021-06-10T13:29:15","modified_gmt":"2021-06-10T13:29:15","slug":"tonight-egypts-annual-headline-inflation-reaches-4-8-in-may-kenya-uganda-and-tanzania-seek-usd-16-bn-for-post-covid-recovery-also-ecb-to-set-monetary-policy-today","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2021\/06\/10\/tonight-egypts-annual-headline-inflation-reaches-4-8-in-may-kenya-uganda-and-tanzania-seek-usd-16-bn-for-post-covid-recovery-also-ecb-to-set-monetary-policy-today\/","title":{"rendered":"TONIGHT: Egypt\u2019s annual headline inflation reaches 4.8% in May + Kenya, Uganda and Tanzania seek USD 16 bn for post-covid recovery. ALSO: ECB to set monetary policy today."},"content":{"rendered":"<p><strong>It\u2019s a busy news day to wrap up the week, ladies and gents.<\/strong> We have a mix of major macro news, with a side of monetary policy for the first course, with some IPO and debt news next, followed by a dessert offering of sports.<\/p>\n<p><strong>THE BIG STORY TODAY- Annual headline inflation accelerated to 4.8% in May<\/strong> from 4.1% in April, largely thanks to an unfavorable base effect and the impact of the commodities boom witnessed since the end of last year. That said, it accelerated at a slower pace m-o-m, indicating the worst may be over. We break down the figures from Capmas in the Speed Round below.<\/p>\n<p><strong>Interest day next week: <\/strong>Expect this to guide the conversation into next week as the central bank\u2019s Monetary Policy Committee (MPC) will meet next Thursday, 17 June to decide on interest rates. The CBE\u2019s monetary policy committee is due to meet on Thursday, 17 June. Look for our poll of analysts on which way the committee will swing next Sunday.<\/p>\n<p><a class=\"content-anchor\" id=\"tldr-story-06\"><\/a> <strong>HAPPENING NOW- It\u2019s interest day in Europe as EU keeps stimulus rolling <\/strong><strong>despite a rosier outlook: <\/strong>The European Central Bank maintained the pace of its high-powered pandemic bond-buying program, and said it plans to snap up EUR 1.85 tn in bonds until March 2022, according to a statement. This came despite calls from some policymakers to start tapering down the crisis-fighting policy as the EU recovers from the covid-19 fallout, <a href=\"https:\/\/www.ft.com\/content\/6c5c3c9c-e9fb-48a3-97a4-b920f38c5f25\">the FT notes<\/a>. The Frankfurt-based central bank kept its main operation, marginal lending and deposit rates unchanged at 0.00%, 0.25% and -0.50%.<\/p>\n<p><strong>ECB president Christine Lagarde is due to explain the decision during a press <\/strong><strong>conference later today, <\/strong>and should announce upgraded quarterly economic forecasts for the bloc to reflect a brighter outlook on the back of falling cases and an improved vaccination rate<\/p>\n<p><strong>** CATCH UP QUICK <\/strong>on the top stories from today\u2019s <strong>EnterpriseAM<\/strong>:<\/p>\n<ul>\n<li><strong>FTSE Russell index inclusion <\/strong><strong><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/b180946d-ee6d-4bca-a997-bdcf0c56256a\">could bring USD 4 bn<\/a><\/strong><strong> into EGP bonds<\/strong>, believes Finance Minister Mohamed Maait, making the new bond index a significantly more lucrative source of FX than the JPMorgan EM index.<\/li>\n<li><strong>Corporate bonds can now be <\/strong><strong><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/817e78d0-796f-48fa-8c5f-b2c8843a848a\">traded intraday<\/a><\/strong><strong> on the EGX <\/strong>after an FRA decision that aims to boost the secondary bond market.<\/li>\n<li><strong>Egyptian VC 138 Pyramids <\/strong><strong><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/6870e22a-a636-44aa-a53b-2483a16b6412\">will set up<\/a><\/strong><strong> a SME-focused PE firm<\/strong>, with EGP 10 mn in initial capital to invest in local SME manufacturers and exporters.<\/li>\n<\/ul>\n<hr class=\"grey-line\">\n<p><a class=\"content-anchor\" id=\"tldr-story-05\"><\/a> <strong>On the diplomacy front, Egypt drums up support from Tanzania over GERD: <\/strong>President Abdel Fattah El Sisi held a call with his Tanzanian counterpart Samia Hassan to discuss bilateral cooperation in infrastructure development, technical support, and trade, according to an <a href=\"https:\/\/www.facebook.com\/Egy.Pres.Spokesman\/posts\/332231198265615\">Ittihadiya statement<\/a>. Of course, the Grand Ethiopian Renaissance Dam (GERD) was also a topic of discussion, with El Sisi stressing the need to reach a mutually beneficial agreement as Ethiopia continues on with plans to <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/31177929-41f3-4a1e-8951-6808813c798f\">fill the dam<\/a>.<\/p>\n<p><strong>Egypt has been helping Tanzania with its own project to construct a hydroelectric dam<\/strong>, dubbed the Julius Nyerere Hydropower Plant and Dam, which is being built by <a href=\"https:\/\/www.elsewedyelectric.com\/en\/business-lines\/engineering-construction\/power-generation\/hydropower-energy\/\">ElSewedy Electric<\/a> under a USD 2.9 bn contract.<\/p>\n<p><strong>A chance for economic diplomacy?<\/strong> Kenya, Uganda and Tanzania want to borrow at least USD 16 bn to ease covid-related debt burdens, <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2021-06-10\/east-africa-seeks-16-billion-of-debt-to-boost-economic-growth\">Bloomberg<\/a> reports. The three countries\u2019 finance ministers will be presenting their FY2021-2022 spending plans today, which should see a combined budget shortfall of USD 16.4 bn. East Africa\u2019s largest economy Kenya\u2019s deficit alone is USD 8.8 bn, or 7.7% of its GDP, as it continues to invest in expressways, ports and railways. Tanzania plans to borrow over USD 4.3 bn, of which half should come from external sources. Uganda is the only country to reduce its planned expenditure by USD 12.6 bn, and is already in talks with the IMF for a USD 1 bn loan to boost its recovery plan. Its debt could approach 50% of GDP by the end of June, Bloomberg cites Moody\u2019s Investors Service.<\/p>\n<p><strong>What about Egypt\u2019s own deficit?<\/strong> Our FY2020-21 budget shortfall is expected to come in at 7.7% of GDP, after which the government expects it to narrow to 6.7% during FY2021-22, according to draft budget figures the Finance Ministry <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/7216ea40-25ec-4e8f-9081-9246e0d1e378\">published in April<\/a>. Debt-to-GDP levels also remain elevated, and are expected to have <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/422458d6-8b81-411d-856a-d45787d8866e\">temporarily increased<\/a> in recent months due to pandemic financing needs, but should fall in the long-term as authorities continue to implement a <a href=\"https:\/\/enterprise.press\/stories\/2019\/03\/10\/egypt-begins-implementing-debt-reduction-strategy\/\">debt control strategy<\/a> that focuses on moving toward longer-tenor borrowing and a long-term reduction in the debt-to-GDP.<\/p>\n<hr class=\"grey-line\">\n<p><strong>YOUR MANDATORY COVID STORY- Abu Dhabi is setting up a new system to allow only <\/strong><strong>vaccinated individuals into public spaces<\/strong>, according to the <a href=\"https:\/\/www.wam.ae\/en\/details\/1395302942261\">Emirates News Agency<\/a>. The Emirate will use the Health Ministry app <a href=\"https:\/\/twitter.com\/AlHosnApp\/status\/1401908960559386627?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1401908960559386627%7Ctwgr%5E%7Ctwcon%5Es1_&ref_url=https%3A%2F%2Fwww.bloomberg.com%2Fnews%2Farticles%2F2021-06-10%2Fabu-dhabi-limits-access-to-malls-beaches-to-green-pass-holders\">AlHosn<\/a> that will indicate a person\u2019s vaccination and PCR validity status through its color-coded system. Only individuals showing a \u201cgreen pass\u201d will be allowed access to places including malls, parks, supermarkets, restaurants, and beaches. <strong>The system will come into effect starting next Tuesday, 15 June.<\/strong><\/p>\n<div class=\"row\">\n<div class=\"col-md-12 subscribe-box-panel\">\n<div class=\"\">\n<div class=\"title\">\n<h4 class=\"fw-lighter mb-10\">\n          Get <b style=\"font-weight: 700\">Enterprise<\/b> daily<br \/>\n        <\/h4>\n<\/p><\/div>\n<p class=\"mb-10\">The roundup of news and trends that move your markets and shape corporate agendas delivered straight to your inbox.<\/p>\n<p>      <a href=\"egypt\/en\/user\/NewsLetters\" type=\"button \" class=\"btn-green px-3 d-flex align-items-center\">Subscribe here<\/a>\n    <\/div>\n<\/p><\/div>\n<\/div>\n<p><strong>FOR TOMORROW-<\/strong><\/p>\n<p><strong>The first forum of the heads of African investment promotion agencies will kick off in Egypt starting tomorrow<\/strong> in Sharm El Sheikh under the theme \u201cIntegration for Growth,\u201d according to a <a href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/151259670377795\">cabinet statement<\/a>. Ministers and heads of investment agencies from 34 African countries are expected to attend. The forum will run until Monday.<\/p>\n<p><strong>? CIRCLE YOUR CALENDAR-<\/strong><\/p>\n<p><strong>Entrepreneurs in the tourism sector have until 20 June to apply for the six-month <\/strong><strong>Tourism Recovery Program<\/strong> launched by <a href=\"https:\/\/enpact.org\/#\/\">Enpact<\/a> and the <a href=\"https:\/\/www.tuicarefoundation.com\/en\">TUI Care Foundation<\/a> and supported by <a href=\"https:\/\/www.giz.de\/en\/html\/index.html\">GIZ<\/a>, according to a <a href=\"https:\/\/ent.news\/2021\/6\/070621_Egypt-Press-Release_ENG.pdf\">press release (pdf)<\/a>. Some 100 startups will be eligible for direct support to the tune of EUR 9k each. The program also aims to create an international network of tourism business to expand cooperation between Egypt, Germany, and other European countries. You can apply <a href=\"https:\/\/enpact.org\/open-applications\/tourism-recovery-programme\/#\/\">here<\/a>.<\/p>\n<p>? <strong>FOR YOUR COMMUTE-<\/strong><\/p>\n<p><strong>BTC bears kind of have it over BTC bulls: <\/strong>A so-called \u201c<a href=\"https:\/\/www.investopedia.com\/terms\/b\/backwardation.asp\">futures backwardation<\/a>\u201d \u2014 where spot prices exceed futures prices \u2014 has returned to the bitcoin market in recent weeks, suggesting that the token might not recover as strongly as the bulls had hoped, JPMorgan strategists led by Nikolaos Panigirtzoglou wrote in a note cited by <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2021-06-10\/futures-flash-warning-for-bitcoin-outlook-in-jpmorgan-analysis?sref=mmeFTDW1\">Bloomberg<\/a>. Bitcoin jumped some 14% in the past two days after a tumultuous May that saw it lose some 74% of its value following a record boom earlier in the year. But backwardation is reason for caution, and signals weak demand from institutions, the JPMorgan analysts said. Bitcoin\u2019s shrinking market share of the crypto market, which is now 42% after having topped 70% at the start of 2021 is also another worrying sign, they add.<\/p>\n<p><strong>The Institut du Monde Arabe in Paris is hosting an exhibition titled <\/strong><strong><a href=\"https:\/\/www.imarabe.org\/en\/expositions\/divas-arabes\">Divas, from Umm<\/a><\/strong><strong><a href=\"https:\/\/www.imarabe.org\/en\/expositions\/divas-arabes\">Kulthum to Dalida<\/a><\/strong> (D'Oum Kalthoum \u00e0 Dalida) that will run from 19 May to 26 September. The exhibition will feature personal objects, stage dresses, period photographs, extracts from films or concerts, and rare interviews and film posters for huge Arab female icons including Fairuz, Laila Mourad, Samia Gamal, Souad Hosni, Dalida, according to <a href=\"https:\/\/uk.sports.yahoo.com\/news\/paris-exhibition-divas-shines-light-074432878.html?guccounter=1&guce_referrer=aHR0cHM6Ly9uZXdzLmdvb2dsZS5jb20v&guce_referrer_sig=AQAAAJ4t8_bIqW5t23_I81NzveBt29xQccIUoqhi7293h9XOD6lPNgLd-3vII7gaYIExi_dtNW2IQkJBjawvMQuHF1W2g-PbIksXXc-F3u-23fsCOPTix8USWanKBrCRcM0UL2msUeb8ftdDjOg6weGhF4VsRNjXoo8AsiosknU9icWc\">Yahoo News<\/a>. Curators Hanna Boghanim and Elodie Bouffard travelled the Middle East for three years to collect the pieces that will be displayed. The exhibition will have a section dedicated to Umm Kulthum and her political and musical influence on the region.<\/p>\n<p><strong>? <\/strong><strong>ON THE TUBE TONIGHT-<\/strong><\/p>\n<p><strong>Netflix Original film <\/strong><strong><a href=\"https:\/\/www.netflix.com\/eg-en\/title\/81040362\">Awake<\/a><\/strong><strong> has dropped on the streaming site<\/strong>, chronicling a global event that wipes out people\u2019s ability to sleep. The sci-fi thriller has been likened to Sandra Bullock\u2019s Bird Box, only better, according to CNET. The main character Jill (played by Gina Rodriguez) is an ex-military mother who lost custody of her kids due to a few misdemeanors. However, when the no-sleep plague hits the world and everyone gets more than a little cranky, turning murderous at times, Jill runs away with her children to try and survive. <a href=\"https:\/\/www.nbcnews.com\/think\/opinion\/netflix-s-awake-apocalypse-now-everyone-angry-narcissistic-insomniac-ncna1269961\">NBC News<\/a> and the <a href=\"https:\/\/www.nytimes.com\/2021\/06\/09\/movies\/awake-review.html\">New York Times<\/a> are out with reviews.<\/p>\n<p>\u26bd <strong>In case you actually do live under a rock, the Euro 2020 will be kicking off tomorrow at 9pm CLT.<\/strong> We breakdown everything you need to know before the tournament in today\u2019s Sports.<\/p>\n<p><strong>? EAT THIS TONIGHT- <\/strong><\/p>\n<p><strong>Some contemporary mediterranean cuisine to tickle your fancy:<\/strong> <a href=\"https:\/\/www.facebook.com\/allebotti.eg\/\">Alle Botti Restaurant<\/a> in Heliopolis has all the household favorites such as mombar, kofta, and stuffed quails \u2014 created with a fusion of modern tastes and styles. The dual-identity Merghany joint also features international cuisine on its menu, from Dutch veal to all sorts of pastas. We recommend their muhammara mignon tartlets, shish barak, and hummus. For dessert get a heaping plate of apple kunafa or their classic mini eclairs. Pro tip: there\u2019s an olive tree at the front of the restaurant that we have previously snacked on while waiting for a spot.<\/p>\n<p>?<strong> OUT AND ABOUT-<\/strong><\/p>\n<p><a class=\"content-anchor\" id=\"tldr-story-08\"><\/a> <strong>There are not one, not two, but three film festivals coming up this month:<\/strong><\/p>\n<ul>\n<li>The <strong><a href=\"https:\/\/www.facebook.com\/ismailiafilmfestival2015\/posts\/2956461661299085\">Ismailia International Film Festival<\/a><\/strong> will be the first to kick off during 16-22 June and this year the event will be headed by scriptwriter and head of the National Film center <a href=\"https:\/\/elcinema.com\/en\/person\/1087845\/\">Mohamed El Basousy<\/a>, according to a <a href=\"https:\/\/www.facebook.com\/ismailiafilmfestival2015\/posts\/2956461661299085\">statement<\/a>.<\/li>\n<li>Meanwhile, the <strong><a href=\"https:\/\/www.facebook.com\/AIWFFestival\/\">Aswan International Women Film Festival<\/a><\/strong> will be held from 24-29 June, featuring film screenings and workshops from female filmmakers from around the world. The festival is funded by the European Union in Egypt and will honor a number of great inspirations in the field including the late scriptwriter <a href=\"https:\/\/elcinema.com\/en\/person\/1020872\/\">Kawthar Heikal<\/a> and Egyptian actresses <a href=\"https:\/\/elcinema.com\/en\/person\/1093917\/\">Elham Shaheen<\/a> and <a href=\"https:\/\/elcinema.com\/en\/person\/1101175\/\">Donia Samir Ghanem<\/a>.<\/li>\n<li>Finally, the <strong><a href=\"https:\/\/www.cinemaegypt.com\/index.php\/%D8%A2%D8%AE%D8%B1-%D8%A7%D9%84%D8%A3%D8%AE%D8%A8%D8%A7%D8%B1\/1570-%D8%B4%D8%B1%D9%85-%D8%A7%D9%84%D8%B4%D9%8A%D8%AE-%D8%A7%D9%84%D8%B3%D9%8A%D9%86%D9%85%D8%A7%D8%A6%D9%89-%D9%8A%D9%87%D8%AF%D9%89-%D8%AF%D9%88%D8%B1%D8%AA%D9%87-%D8%A7%D9%84%D8%B1%D8%A7%D8%A8%D8%B9%D8%A9-%D9%84%D9%84%D9%85%D8%AE%D8%B1%D8%AC-%D8%A7%D9%84%D9%82%D8%AF%D9%8A%D8%B1-%D8%AF%D8%A7%D9%88%D9%88%D8%AF-%D8%B9%D8%A8%D8%AF-%D8%A7%D9%84%D8%B3%D9%8A%D8%AF\">Sharm El Sheikh Film Festival<\/a><\/strong> will round out the month, taking place from 25 June to 1 July in dedication of Egyptian director <a href=\"https:\/\/elcinema.com\/en\/person\/1049024\/\">Daoud Abdel Sayed<\/a>.<\/li>\n<\/ul>\n<p><strong>ALSO- The Caravan Troupe <\/strong><strong><a href=\"https:\/\/www.facebook.com\/events\/4075147945894875\/?active_tab=about\">is performing<\/a><\/strong><strong> the play Lungs tonight <\/strong>at the GrEEK Campus in Downtown Cairo at 7:30pm.<\/p>\n<p><strong>Soul Trains are having a <\/strong><strong><a href=\"https:\/\/www.instagram.com\/p\/CP43pVWHiqs\/?utm_medium=copy_link\">Bruno Mars tribute night<\/a><\/strong> at Cairo Jazz Club in Agouza tonight at 9pm.<\/p>\n<p><strong>? UNDER THE LAMPLIGHT-<\/strong><\/p>\n<p><strong>Immortality might be right around the corner: <\/strong>Harvard Scientist David Sinclair believes that modern science can reverse the effects of aging, outlining his research on genetics and longevity in his book <a href=\"https:\/\/www.amazon.com\/Lifespan-Why-Age-Dont-Have-ebook\/dp\/B07N4C6LGR\/ref=tmm_kin_swatch_0?_encoding=UTF8&qid=&sr=\">Lifespan: Why We Age\u2015and Why We Don't Have To<\/a>. Along with co-author Matthew D. LaPlante, the duo explain recent advances in genetic reprogramming that could allow people to not just feel younger, but actually become younger. The science is coupled with lifestyle habits that have been proven to extend lifespans and health such as intermittent fasting, cold exposure, exercising with the right intensity, and eating less meat. The book introduces a novel perspective on aging, while suggesting that \u201cthe disease\u201d of aging is treatable with the right approach.<\/p>\n<p>\u2600\ufe0f <strong>TOMORROW\u2019S WEATHER- It\u2019s going to be a hot weekend, folks.<\/strong> The mercury will be at the 38-39\u00b0C range for Friday, Saturday and Sunday, while the nights will cool down to 22\u00b0C, our favorite weather app tells us.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>It\u2019s a busy news day to wrap up the week, ladies and gents. We have a mix of major macro news, with a side of monetary policy for the first course, with some IPO and debt news next, followed by a dessert offering of sports. THE BIG STORY TODAY- Annual headline inflation accelerated to 4.8% [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[7213],"tags":[298,271,107,344,168,104,152,633,7192,725,182,1876,724,148,527,3340,113,634],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-566301","post","type-post","status-publish","format-standard","hentry","category-what-were-tracking-tonight","tag-abu-dhabi","tag-central-bank-of-egypt","tag-covid-19","tag-cryptocurrency","tag-diplomacy","tag-economy","tag-elsewedy-electric","tag-enterprisepm","tag-eu","tag-european-central-bank","tag-inflation","tag-kenya","tag-monetary-policy","tag-music","tag-pandemic","tag-uganda","tag-vaccines","tag-what-were-tracking-tonight","wpautop","entry"],"acf":{"mongo_id":"a2cb5444-7926-4ad1-9e3e-ce988c3dd8ea","order":"0","is_powered_by":true,"story_type":"4","photo_url":"","photo_position":"above","related_issue":[566299],"teaser":"","voice_url":""},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>TONIGHT: Egypt\u2019s annual headline inflation reaches 4.8% in May + Kenya, Uganda and Tanzania seek USD 16 bn for post-covid recovery. ALSO: ECB to set monetary policy today. - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/2021\/06\/10\/tonight-egypts-annual-headline-inflation-reaches-4-8-in-may-kenya-uganda-and-tanzania-seek-usd-16-bn-for-post-covid-recovery-also-ecb-to-set-monetary-policy-today\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"TONIGHT: Egypt\u2019s annual headline inflation reaches 4.8% in May + Kenya, Uganda and Tanzania seek USD 16 bn for post-covid recovery. ALSO: ECB to set monetary policy today.\" \/>\n<meta property=\"og:description\" content=\"It\u2019s a busy news day to wrap up the week, ladies and gents. We have a mix of major macro news, with a side of monetary policy for the first course, with some IPO and debt news next, followed by a dessert offering of sports. THE BIG STORY TODAY- Annual headline inflation accelerated to 4.8% [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/egypt\/2021\/06\/10\/tonight-egypts-annual-headline-inflation-reaches-4-8-in-may-kenya-uganda-and-tanzania-seek-usd-16-bn-for-post-covid-recovery-also-ecb-to-set-monetary-policy-today\/\" \/>\n<meta property=\"og:site_name\" content=\"EnterpriseAM Egypt\" \/>\n<meta property=\"article:published_time\" content=\"2021-06-10T13:29:15+00:00\" \/>\n<meta name=\"author\" content=\"enterpriseam admin\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"enterpriseam admin\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"9 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2021\/06\/10\/tonight-egypts-annual-headline-inflation-reaches-4-8-in-may-kenya-uganda-and-tanzania-seek-usd-16-bn-for-post-covid-recovery-also-ecb-to-set-monetary-policy-today\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2021\/06\/10\/tonight-egypts-annual-headline-inflation-reaches-4-8-in-may-kenya-uganda-and-tanzania-seek-usd-16-bn-for-post-covid-recovery-also-ecb-to-set-monetary-policy-today\/\"},\"author\":{\"name\":\"enterpriseam admin\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\"},\"headline\":\"TONIGHT: Egypt\u2019s annual headline inflation reaches 4.8% in May + Kenya, Uganda and Tanzania seek USD 16 bn for post-covid recovery. 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Annual headline rate accelerated to 4.8% in May from 4.1% in April, while the overall rate in urban and rural areas (pdf) rose to 4.9% last month from 4.4% a\u2026","rel":"","context":"In &quot;SPEED ROUND: ECONOMY&quot;","block_context":{"text":"SPEED ROUND: ECONOMY","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round-economy\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2021\/6\/459.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":565438,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/04\/08\/inflation-uptick-as-ramadan-approaches\/","url_meta":{"origin":566301,"position":1},"title":"Inflation uptick as Ramadan approaches","author":"enterpriseam admin","date":"8 April 2021","format":false,"excerpt":"Annual headline inflation accelerated slightly to 4.8% in March, up from 4.6% in February, state statistics bureau Capmas\u2019 latest reading (pdf) showed. Annual urban inflation stood steady to 4.5% in March. On a monthly basis, headline inflation rose 0.6% m-o-m, compared to a 0.2% monthly rise in February. This is\u2026","rel":"","context":"In &quot;SPEED ROUND: ECONOMY&quot;","block_context":{"text":"SPEED ROUND: ECONOMY","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round-economy\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":562943,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/06\/13\/enterprise-poll-cbe-to-leave-rates-on-hold-at-upcoming-meeting-2\/","url_meta":{"origin":566301,"position":2},"title":"ENTERPRISE POLL- CBE to leave rates on hold at upcoming meeting","author":"enterpriseam admin","date":"13 June 2021","format":false,"excerpt":"ENTERPRISE POLL- The CBE expected to leave rates on hold: The Central Bank of Egypt (CBE) will likely leave interest rates on hold when its Monetary Policy Committee meets on Thursday, according to an Enterprise poll. All 11 analysts and economists we surveyed expect the central bank to stick to\u2026","rel":"","context":"In &quot;POLL&quot;","block_context":{"text":"POLL","link":"https:\/\/enterpriseam.com\/egypt\/category\/poll\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2021\/6\/165.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":567942,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/12\/13\/food-prices-drive-inflation-rate-to-five-month-high\/","url_meta":{"origin":566301,"position":3},"title":"Food prices drive inflation rate to five-month high","author":"enterpriseam admin","date":"13 December 2020","format":false,"excerpt":"Annual headline urban inflation accelerated for the second consecutive month to 5.7% in November from 4.6% in October, according to Capmas figures (pdf) released on Thursday. The increase was driven by higher food prices, which single-handedly brought annual inflation to its highest since May. Monthly headline figures remained muted at\u2026","rel":"","context":"In &quot;Economy&quot;","block_context":{"text":"Economy","link":"https:\/\/enterpriseam.com\/egypt\/category\/economy\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2020\/12\/220.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":563119,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/06\/20\/cbe-holds-interest-rates-for-fifth-consecutive-meeting\/","url_meta":{"origin":566301,"position":4},"title":"CBE holds interest rates for fifth consecutive meeting","author":"enterpriseam admin","date":"20 June 2021","format":false,"excerpt":"The Central Bank of Egypt\u2019s Monetary Policy Committee (MPC) left interest rates unchanged for a fifth consecutive meeting on Thursday as it looks to preempt a possible rise in inflation on the back of spiraling global commodity prices. Overnight deposit and lending rates remain at 8.25% and 9.25% respectively, while\u2026","rel":"","context":"In &quot;Economy&quot;","block_context":{"text":"Economy","link":"https:\/\/enterpriseam.com\/egypt\/category\/economy\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2021\/6\/248.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":551324,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/06\/09\/this-evening-cira-confirms-its-future-flow-securitization-plans-savola-closes-ole-bankery-acquisition-plus-inflation-accelerated-again-in-may\/","url_meta":{"origin":566301,"position":5},"title":"THIS EVENING: CIRA confirms its future flow securitization plans + Savola closes Ole Bankery acquisition. Plus: Inflation accelerated again in May","author":"enterpriseam admin","date":"9 June 2022","format":false,"excerpt":"Good afternoon, wonderful people. 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