{"id":570669,"date":"2020-04-09T04:40:12","date_gmt":"2020-04-09T04:40:12","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2020\/04\/09\/egypt-in-the-news-on-10-april-2020\/"},"modified":"2020-04-09T04:40:12","modified_gmt":"2020-04-09T04:40:12","slug":"egypt-in-the-news-on-10-april-2020","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2020\/04\/09\/egypt-in-the-news-on-10-april-2020\/","title":{"rendered":"Egypt in the News on 10 April 2020"},"content":{"rendered":"

Leading the conversation on Egypt this morning is a <\/strong>Financial Times<\/a><\/strong> piece <\/strong>suggesting that Egypt has seen outflows of USD 7-9 bn from equity and debt markets combined. The salmon-color paper notes that \u201cEgyptian bankers said they expected Cairo to let the EGP depreciate gradually \u2014 weakening currencies fuel inflation and add to countries\u2019 debt servicing costs.\u201d Egypt, like other non-oil MENA economies, has a delicate balancing act to strike <\/strong>between the cost of bailouts for businesses, the challenge of keeping the economy running, preventing the spread of covid and servicing debt.<\/p>\n

Egypt\u2019s workers struggle amid covid-19:<\/strong> Irregular laborers have been struggling to get by since the outbreak of the pandemic, making the government\u2019s planned three-month stipend a necessity, AFP reports<\/a>. Meanwhile, Amnesty International<\/a> said yesterday that garment workers in investment zones are risking their health by continuing to work without sufficient protective measures for fear of losing out on their incomes.<\/p>\n

Take a tour of our historical sites from your couch:<\/strong> Egypt has launched virtual tours of the tomb of Menna, which forms part of the necropolis of the ancient city of Thebes (modern-day Luxor), and dates back to the 18th dynasty (between 1550 and 1295 BC), to help people maintain an interest in historical sites while staying home, Euro Weekly reports<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"

Leading the conversation on Egypt this morning is a Financial Times piece suggesting that Egypt has seen outflows of USD 7-9 bn from equity and debt markets combined. The salmon-color paper notes that \u201cEgyptian bankers said they expected Cairo to let the EGP depreciate gradually \u2014 weakening currencies fuel inflation and add to countries\u2019 debt […]<\/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":[7233],"tags":[504,104,2386,928,72,412,2412,238],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-570669","post","type-post","status-publish","format-standard","hentry","category-egypt-in-the-news","tag-archaeology","tag-economy","tag-egypt-in-the-news","tag-employment","tag-enterpriseam","tag-history","tag-informal-economy","tag-tourism","wpautop","entry"],"acf":{"mongo_id":"e49b6213-a3a1-4715-807e-fdc044a7c1fc","is_powered_by":true,"story_type":"1","photo_url":"","photo_position":"above","related_issue":[570654],"teaser":"","voice_url":""},"yoast_head":"\nEgypt in the News on 10 April 2020 - 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\/2020\/04\/09\/egypt-in-the-news-on-10-april-2020\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Egypt in the News on 10 April 2020\" \/>\n<meta property=\"og:description\" content=\"Leading the conversation on Egypt this morning is a Financial Times piece suggesting that Egypt has seen outflows of USD 7-9 bn from equity and debt markets combined. 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The ratings agency ran stress scenarios to gauge the effect that rapidly rising borrowing costs for sovereigns would have on budget deficits, looking\u2026","rel":"","context":"In "Economy"","block_context":{"text":"Economy","link":"https:\/\/enterpriseam.com\/egypt\/category\/economy\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2021\/5\/215.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":571722,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/05\/21\/with-fresh-imf-funding-in-place-and-more-to-come-finmin-could-cut-back-on-local-borrowing-to-curb-the-cost-of-servicing-its-debt\/","url_meta":{"origin":570669,"position":3},"title":"With fresh IMF funding in place and more to come, FinMin could cut back on local borrowing to curb the cost of servicing its debt","author":"enterpriseam admin","date":"21 May 2020","format":false,"excerpt":"With fresh IMF funding in place and more to come, FinMin could cut back on local borrowing to curb the cost of servicing its debt: The Finance Ministry could cut down on the number of bids it accepts in EGP-denominated bond sales until the end of FY2019-2020, which wraps on\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":578364,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/12\/26\/its-been-a-helluva-year-for-global-debt-markets\/","url_meta":{"origin":570669,"position":4},"title":"It\u2019s been a helluva year for global debt markets","author":"enterpriseam admin","date":"26 December 2022","format":false,"excerpt":"It has been a tumultuous year in the global debt markets as central banks around the world have aggressively raised interest rates in response to the largest wave of inflation since the 1970s. Reacting to price growth spurred by Russia\u2019s invasion of Ukraine in February and the impact of the\u2026","rel":"","context":"In "YEAR IN REVIEW: DEBT"","block_context":{"text":"YEAR IN REVIEW: DEBT","link":"https:\/\/enterpriseam.com\/egypt\/category\/year-in-review-debt\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2022\/12\/524.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":557081,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/09\/06\/can-egypt-weather-a-taper-tantrum-2-0\/","url_meta":{"origin":570669,"position":5},"title":"Can Egypt weather a taper tantrum 2.0?","author":"enterpriseam admin","date":"6 September 2021","format":false,"excerpt":"Egypt\u2019s world-beating real interest rate will help it weather an uptick in global rates, but the country faces some risk from capital outflows unless it acts to reduce its debt costs, S&P Global Ratings said in a report yesterday. 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