{"id":586548,"date":"2023-05-14T00:00:00","date_gmt":"2023-05-14T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2023\/05\/14\/bnp-paribas-citi-analysts-think-an-imminent-egp-deval-looks-increasingly-unlikely\/"},"modified":"2023-05-14T00:00:00","modified_gmt":"2023-05-14T00:00:00","slug":"bnp-paribas-citi-analysts-think-an-imminent-egp-deval-looks-increasingly-unlikely","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2023\/05\/14\/bnp-paribas-citi-analysts-think-an-imminent-egp-deval-looks-increasingly-unlikely\/","title":{"rendered":"BNP Paribas, Citi analysts think an imminent EGP deval looks increasingly unlikely"},"content":{"rendered":"

<\/span>We\u2019re unlikely to see another steep devaluation of the EGP before the end of this <\/span>fiscal year in June<\/span>, <\/span>BNP Paribas<\/span> and <\/span>Citigrou<\/span>p analysts wrote in research notes last week. Analysts at both banks say the USD-EGP rate will likely remain unchanged over the next six weeks as policymakers look to keep borrowing costs and inflation in check while we wait to secure more FX from abroad. <\/span><\/p>\n

REMEMBER-<\/span> The USD-EGP exchange rate has remained unchanged at 30.96 since mid-March following three devaluations that have caused the EGP t<\/span>o almost <\/span>halve in value against the greenback.<\/span><\/p>\n

FX first, deval second:<\/span> \u201cEgypt may now be looking to allow a gradual EGP depreciation after it secures foreign investment flows and the second IMF tranche \u2014 to mitigate the risk of a disorderly exchange rate correction,\u201d w<\/span>rote Mohamed Abdelmeguid, BNP Paribas\u2019 senior MENA economist<\/span>. The bank had previously expected the EGP to fall to 34.00 against the greenback by the end of June. The CBE might also hold out for \u201cbumper tourism\u201d revenues of about USD 14 bn before opting for an FX adjustment, <\/span>Bloomberg<\/a><\/span> cites Citigroup as saying in its note. <\/span><\/p>\n

No deval needed to unblock Gulf investment? <\/span>BNP Paribas no longer sees another devaluation as \u201ca strict condition\u201d to unlock FX inflows from the Gulf. The <\/span>successful sale<\/a><\/span>of state-owned Paint and Chemical Industries (Pachin) to Dubai-based National Paints Holding (NPH) earlier this month \u201csuggests that earnings and exports potential of Egyptian companies is enticing to some buyers \u2014 with or without a devaluation,\u201d a<\/span>ccording to Abdelmeguid.<\/span><\/p>\n

The threat of a ratings downgrade could be at play: <\/span>A further depreciation could push up the government\u2019s debt bill, leading Moody\u2019s to act on its <\/span>threat<\/a><\/span> last week to downgrade our sovereign credit rating, <\/span>Abdelmeguid wrot<\/span>e. Higher borrowing costs would also make it more difficult for the government to hit it<\/span>s <\/span>6.4%<\/a><\/span>target<\/a><\/span> for the budget deficit this fiscal year, Citigroup noted. BNP Paribas also thinks that a <\/span>sharp narrowing<\/a><\/span> of the current account deficit in 1Q FY 2022-2023 \u2014 thanks in part to a lower imports bill \u2014 makes a further devaluation less urgent.<\/span><\/p>\n

Traders agree: <\/span>The EGP has in recent weeks been regaining value against the USD in the one-month non-deliverable forwards (NDFs) market, suggesting traders are pulling back from wagers of another devaluation in the short term,<\/span> according to Bloomberg<\/span>. One-month NDFs had the USD-EGP rate at around 32.90 on Thursday, from a record high of 35.30 on 25 April.<\/span><\/p>\n

As do local bankers: <\/span>BNP Paribas \u201cgauged a broad agreement amongst the major [Egyptian] banks that the central bank is likely to hold off from another devaluation until after sufficient inflows from the GCC are secured,<\/span>\u201d Abdelmeguid wrot<\/span>e.<\/span><\/p>\n

A delay, not a halt: <\/span>Twelve-month NDF contracts have climbed to 43.30, suggesting investors think the EGP still has a long way to fall against the USD over the next year. Moving to a flexible FX rate is a key condition of our USD 3 bn loan agreement with the IMF, and a<\/span> senior Fund official <\/span>said <\/span>earlier this month <\/span>that they believe the country is <\/span>\u201cserious\u201d<\/a><\/span>about making that shift. <\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

Policymakers could wait for FX inflows before any further devaluation<\/p>\n","protected":false},"author":1,"featured_media":586549,"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":[7206],"tags":[943,294,104,72,2234],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-586548","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-economy","tag-bnp-paribas","tag-citigroup","tag-economy","tag-enterpriseam","tag-foreign-exchange","wpautop","entry"],"acf":{"mongo_id":"9930ca68-b809-445d-9511-b6483a08a261","order":"0","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2023\/5\/697.jpg","photo_position":"above","homepage_title":"","full_issue_title":"USD-EGP rate likely to hold steady through FY 2022-23, say BNP Paribas, Citigroup","related_issue":[586540],"teaser":"Policymakers could wait for FX inflows before any further devaluation","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2023\/5\/.b9f44940-8ae6-42c5-9bd9-c074c9db7ed7.mp3"},"yoast_head":"\nBNP Paribas, Citi analysts think an imminent EGP deval looks increasingly unlikely - 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\/2023\/05\/14\/bnp-paribas-citi-analysts-think-an-imminent-egp-deval-looks-increasingly-unlikely\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"BNP Paribas, Citi analysts think an imminent EGP deval looks increasingly unlikely\" \/>\n<meta property=\"og:description\" content=\"Policymakers could wait for FX inflows before any further devaluation\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/egypt\/2023\/05\/14\/bnp-paribas-citi-analysts-think-an-imminent-egp-deval-looks-increasingly-unlikely\/\" \/>\n<meta property=\"og:site_name\" content=\"EnterpriseAM Egypt\" \/>\n<meta property=\"article:published_time\" content=\"2023-05-14T00:00:00+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/i0.wp.com\/ent.news\/2023\/5\/697.jpg?fit=%2C&ssl=1\" \/>\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=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2023\/05\/14\/bnp-paribas-citi-analysts-think-an-imminent-egp-deval-looks-increasingly-unlikely\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2023\/05\/14\/bnp-paribas-citi-analysts-think-an-imminent-egp-deval-looks-increasingly-unlikely\/\"},\"author\":{\"name\":\"enterpriseam admin\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\"},\"headline\":\"BNP Paribas, Citi analysts think an imminent EGP deval looks increasingly unlikely\",\"datePublished\":\"2023-05-14T00:00:00+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2023\/05\/14\/bnp-paribas-citi-analysts-think-an-imminent-egp-deval-looks-increasingly-unlikely\/\"},\"wordCount\":527,\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#organization\"},\"image\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2023\/05\/14\/bnp-paribas-citi-analysts-think-an-imminent-egp-deval-looks-increasingly-unlikely\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/i0.wp.com\/ent.news\/2023\/5\/697.jpg?fit=%2C&ssl=1\",\"keywords\":[\"BNP Paribas\",\"Citigroup\",\"economy\",\"EnterpriseAM\",\"foreign exchange\"],\"articleSection\":[\"Economy\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2023\/05\/14\/bnp-paribas-citi-analysts-think-an-imminent-egp-deval-looks-increasingly-unlikely\/\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/2023\/05\/14\/bnp-paribas-citi-analysts-think-an-imminent-egp-deval-looks-increasingly-unlikely\/\",\"name\":\"BNP Paribas, Citi analysts think an imminent EGP deval looks increasingly unlikely - EnterpriseAM Egypt\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2023\/05\/14\/bnp-paribas-citi-analysts-think-an-imminent-egp-deval-looks-increasingly-unlikely\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2023\/05\/14\/bnp-paribas-citi-analysts-think-an-imminent-egp-deval-looks-increasingly-unlikely\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/i0.wp.com\/ent.news\/2023\/5\/697.jpg?fit=%2C&ssl=1\",\"datePublished\":\"2023-05-14T00:00:00+00:00\",\"breadcrumb\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2023\/05\/14\/bnp-paribas-citi-analysts-think-an-imminent-egp-deval-looks-increasingly-unlikely\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/enterpriseam.com\/egypt\/2023\/05\/14\/bnp-paribas-citi-analysts-think-an-imminent-egp-deval-looks-increasingly-unlikely\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2023\/05\/14\/bnp-paribas-citi-analysts-think-an-imminent-egp-deval-looks-increasingly-unlikely\/#primaryimage\",\"url\":\"https:\/\/i0.wp.com\/ent.news\/2023\/5\/697.jpg?fit=%2C&ssl=1\",\"contentUrl\":\"https:\/\/i0.wp.com\/ent.news\/2023\/5\/697.jpg?fit=%2C&ssl=1\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2023\/05\/14\/bnp-paribas-citi-analysts-think-an-imminent-egp-deval-looks-increasingly-unlikely\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/enterpriseam.com\/egypt\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"BNP Paribas, Citi analysts think an imminent EGP deval looks increasingly unlikely\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#website\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/\",\"name\":\"EnterpriseAM\",\"description\":\"The State of the Nation\",\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/enterpriseam.com\/egypt\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Organization\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#organization\",\"name\":\"EnterpriseAM\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/logo\/image\/\",\"url\":\"https:\/\/ent.news\/internal\/240894.svg\",\"contentUrl\":\"https:\/\/ent.news\/internal\/240894.svg\",\"caption\":\"EnterpriseAM\"},\"image\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/logo\/image\/\"}},{\"@type\":\"Person\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\",\"name\":\"enterpriseam admin\",\"sameAs\":[\"http:\/\/enterpriseam.testing.projectsarea.com\"],\"url\":\"https:\/\/enterpriseam.com\/egypt\/author\/enterpriseam\/\"}]}<\/script>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"BNP Paribas, Citi analysts think an imminent EGP deval looks increasingly unlikely - EnterpriseAM Egypt","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/enterpriseam.com\/egypt\/2023\/05\/14\/bnp-paribas-citi-analysts-think-an-imminent-egp-deval-looks-increasingly-unlikely\/","og_locale":"en_US","og_type":"article","og_title":"BNP Paribas, Citi analysts think an imminent EGP deval looks increasingly unlikely","og_description":"Policymakers could wait for FX inflows before any further devaluation","og_url":"https:\/\/enterpriseam.com\/egypt\/2023\/05\/14\/bnp-paribas-citi-analysts-think-an-imminent-egp-deval-looks-increasingly-unlikely\/","og_site_name":"EnterpriseAM Egypt","article_published_time":"2023-05-14T00:00:00+00:00","og_image":[{"url":"https:\/\/i0.wp.com\/ent.news\/2023\/5\/697.jpg?fit=%2C&ssl=1","type":"","width":"","height":""}],"author":"enterpriseam admin","twitter_card":"summary_large_image","twitter_misc":{"Written by":"enterpriseam admin","Est. reading time":"3 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/enterpriseam.com\/egypt\/2023\/05\/14\/bnp-paribas-citi-analysts-think-an-imminent-egp-deval-looks-increasingly-unlikely\/#article","isPartOf":{"@id":"https:\/\/enterpriseam.com\/egypt\/2023\/05\/14\/bnp-paribas-citi-analysts-think-an-imminent-egp-deval-looks-increasingly-unlikely\/"},"author":{"name":"enterpriseam admin","@id":"https:\/\/enterpriseam.com\/egypt\/#\/schema\/person\/ca597032db7e4db868359c123cec256d"},"headline":"BNP Paribas, Citi analysts think an imminent EGP deval looks increasingly unlikely","datePublished":"2023-05-14T00:00:00+00:00","mainEntityOfPage":{"@id":"https:\/\/enterpriseam.com\/egypt\/2023\/05\/14\/bnp-paribas-citi-analysts-think-an-imminent-egp-deval-looks-increasingly-unlikely\/"},"wordCount":527,"publisher":{"@id":"https:\/\/enterpriseam.com\/egypt\/#organization"},"image":{"@id":"https:\/\/enterpriseam.com\/egypt\/2023\/05\/14\/bnp-paribas-citi-analysts-think-an-imminent-egp-deval-looks-increasingly-unlikely\/#primaryimage"},"thumbnailUrl":"https:\/\/i0.wp.com\/ent.news\/2023\/5\/697.jpg?fit=%2C&ssl=1","keywords":["BNP Paribas","Citigroup","economy","EnterpriseAM","foreign exchange"],"articleSection":["Economy"],"inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/enterpriseam.com\/egypt\/2023\/05\/14\/bnp-paribas-citi-analysts-think-an-imminent-egp-deval-looks-increasingly-unlikely\/","url":"https:\/\/enterpriseam.com\/egypt\/2023\/05\/14\/bnp-paribas-citi-analysts-think-an-imminent-egp-deval-looks-increasingly-unlikely\/","name":"BNP Paribas, Citi analysts think an imminent EGP deval looks increasingly unlikely - EnterpriseAM Egypt","isPartOf":{"@id":"https:\/\/enterpriseam.com\/egypt\/#website"},"primaryImageOfPage":{"@id":"https:\/\/enterpriseam.com\/egypt\/2023\/05\/14\/bnp-paribas-citi-analysts-think-an-imminent-egp-deval-looks-increasingly-unlikely\/#primaryimage"},"image":{"@id":"https:\/\/enterpriseam.com\/egypt\/2023\/05\/14\/bnp-paribas-citi-analysts-think-an-imminent-egp-deval-looks-increasingly-unlikely\/#primaryimage"},"thumbnailUrl":"https:\/\/i0.wp.com\/ent.news\/2023\/5\/697.jpg?fit=%2C&ssl=1","datePublished":"2023-05-14T00:00:00+00:00","breadcrumb":{"@id":"https:\/\/enterpriseam.com\/egypt\/2023\/05\/14\/bnp-paribas-citi-analysts-think-an-imminent-egp-deval-looks-increasingly-unlikely\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/enterpriseam.com\/egypt\/2023\/05\/14\/bnp-paribas-citi-analysts-think-an-imminent-egp-deval-looks-increasingly-unlikely\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/enterpriseam.com\/egypt\/2023\/05\/14\/bnp-paribas-citi-analysts-think-an-imminent-egp-deval-looks-increasingly-unlikely\/#primaryimage","url":"https:\/\/i0.wp.com\/ent.news\/2023\/5\/697.jpg?fit=%2C&ssl=1","contentUrl":"https:\/\/i0.wp.com\/ent.news\/2023\/5\/697.jpg?fit=%2C&ssl=1"},{"@type":"BreadcrumbList","@id":"https:\/\/enterpriseam.com\/egypt\/2023\/05\/14\/bnp-paribas-citi-analysts-think-an-imminent-egp-deval-looks-increasingly-unlikely\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/enterpriseam.com\/egypt\/"},{"@type":"ListItem","position":2,"name":"BNP Paribas, Citi analysts think an imminent EGP deval looks increasingly unlikely"}]},{"@type":"WebSite","@id":"https:\/\/enterpriseam.com\/egypt\/#website","url":"https:\/\/enterpriseam.com\/egypt\/","name":"EnterpriseAM","description":"The State of the Nation","publisher":{"@id":"https:\/\/enterpriseam.com\/egypt\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/enterpriseam.com\/egypt\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/enterpriseam.com\/egypt\/#organization","name":"EnterpriseAM","url":"https:\/\/enterpriseam.com\/egypt\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/enterpriseam.com\/egypt\/#\/schema\/logo\/image\/","url":"https:\/\/ent.news\/internal\/240894.svg","contentUrl":"https:\/\/ent.news\/internal\/240894.svg","caption":"EnterpriseAM"},"image":{"@id":"https:\/\/enterpriseam.com\/egypt\/#\/schema\/logo\/image\/"}},{"@type":"Person","@id":"https:\/\/enterpriseam.com\/egypt\/#\/schema\/person\/ca597032db7e4db868359c123cec256d","name":"enterpriseam admin","sameAs":["http:\/\/enterpriseam.testing.projectsarea.com"],"url":"https:\/\/enterpriseam.com\/egypt\/author\/enterpriseam\/"}]}},"featured_image_src":"https:\/\/i0.wp.com\/ent.news\/2023\/5\/697.jpg?resize=600%2C400&ssl=1","featured_image_src_square":"https:\/\/i0.wp.com\/ent.news\/2023\/5\/697.jpg?resize=600%2C600&ssl=1","author_info":{"display_name":"enterpriseam admin","author_link":"https:\/\/enterpriseam.com\/egypt\/author\/enterpriseam\/"},"jetpack_featured_media_url":"https:\/\/i0.wp.com\/ent.news\/2023\/5\/697.jpg?fit=%2C&ssl=1","jetpack_sharing_enabled":true,"jetpack-related-posts":[{"id":660983,"url":"https:\/\/enterpriseam.com\/egypt\/2025\/02\/20\/bnp-paribas-two-cents-on-egypts-economic-outlook-over-the-next-two-years\/","url_meta":{"origin":586548,"position":0},"title":"BNP Paribas\u2019 two cents on Egypt\u2019s economic outlook over the next two years","author":"enterpriseam admin","date":"20 February 2025","format":false,"excerpt":"Deep-seated structural problems pertaining to the country\u2019s public finances and external account position will only be resolved \u201cvery gradually\u201d","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\/2025\/2\/1975.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":638663,"url":"https:\/\/enterpriseam.com\/egypt\/2017\/10\/11\/bnp-paribas-says-cairo-trip-reaffirms-positive-outlook-on-egyptian-economy\/","url_meta":{"origin":586548,"position":1},"title":"BNP Paribas says Cairo trip reaffirms positive outlook on Egyptian economy","author":"enterpriseam admin","date":"11 October 2017","format":false,"excerpt":"A recent visit to Cairo by BNP Paribas reps reaffirmed the bank\u2019s \u201cpositive outlook on the Egyptian economy, whilst highlighted the key challenge of competitiveness in the medium term,\u201d according to trip notes sent to Enterprise (pdf). \u201cOngoing reforms (monetary and fiscal) have put the Egyptian economy on the right\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":647076,"url":"https:\/\/enterpriseam.com\/egypt\/2017\/05\/02\/bnp-paribas-on-imf-world-bank-spring-meetings\/","url_meta":{"origin":586548,"position":2},"title":"BNP Paribas on IMF \/ World Bank spring meetings","author":"enterpriseam admin","date":"2 May 2017","format":false,"excerpt":"BNP Paribas\u2019 Emerging Markets commentary from IMF \/ World Bank Spring meetings said that, in Egypt, the \u201cauthorities expect a strengthening in the export base after the currency devaluation and also see an improvement in tax revenues with the implementation of various fiscal reforms.\u201d The bank says the meetings showed\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":645808,"url":"https:\/\/enterpriseam.com\/egypt\/2017\/07\/31\/economy-returning-to-brighter-prospects-need-balance-between-monetary-targets-and-fiscal-reforms-bnp-paribas\/","url_meta":{"origin":586548,"position":3},"title":"Economy returning to brighter prospects, need balance between monetary targets and fiscal reforms -BNP Paribas","author":"enterpriseam admin","date":"31 July 2017","format":false,"excerpt":"Three factors have helped the Egyptian economy \u201creturn to brighter prospects,\u201d Pascal Devaux writes in a research note for BNP Paribas (pdf): The EGP float, major fiscal reforms with the support of international donor funds, and the \u201caccelerated\u201d development of natural gas resources that are expected to \u201ctrigger a significant\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":609113,"url":"https:\/\/enterpriseam.com\/egypt\/2023\/10\/31\/analysts-split-on-egypt-interest-rate-path-ahead-of-central-bank-meeting\/","url_meta":{"origin":586548,"position":4},"title":"Analysts split on Egypt interest rate path ahead of central bank meeting","author":"enterpriseam admin","date":"31 October 2023","format":false,"excerpt":"Analysts pointed to rate hikes losing their ability as a policy tool to calm inflation as a reason behind their predictions","rel":"","context":"In "POLL"","block_context":{"text":"POLL","link":"https:\/\/enterpriseam.com\/egypt\/category\/poll\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2023\/10\/1485.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":652206,"url":"https:\/\/enterpriseam.com\/egypt\/2017\/01\/03\/bnp-paribas-leads-syndicate-funding-eur-200-mn-power-transmission-stations\/","url_meta":{"origin":586548,"position":5},"title":"BNP Paribas leads syndicate funding EUR 200 mn power transmission stations","author":"enterpriseam admin","date":"3 January 2017","format":false,"excerpt":"A syndicate led by BNP Paribas has signed an EPC-plus-finance funding agreement with the Egyptian Electricity Transmission Company for six new power transmission stations worth EUR 200 mn, Al Borsa reported. Siemens and El Sewedy Electric will be jointly constructing the stations as part of an MoU the Electricity Ministry\u2026","rel":"","context":"In "Energy"","block_context":{"text":"Energy","link":"https:\/\/enterpriseam.com\/egypt\/category\/industries\/energy\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/586548","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/comments?post=586548"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/586548\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/586540"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/586549"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=586548"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=586548"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=586548"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=586548"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=586548"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}