{"id":615810,"date":"2024-02-25T00:00:00","date_gmt":"2024-02-25T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2024\/02\/25\/10-things-to-watch-for-or-questions-to-ask-as-we-wait-for-the-cbe-to-act\/"},"modified":"2024-02-25T00:00:00","modified_gmt":"2024-02-25T00:00:00","slug":"10-things-to-watch-for-or-questions-to-ask-as-we-wait-for-the-cbe-to-act","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2024\/02\/25\/10-things-to-watch-for-or-questions-to-ask-as-we-wait-for-the-cbe-to-act\/","title":{"rendered":"10 things to watch for (or questions to ask) as we wait for the CBE to act"},"content":{"rendered":"

Good morning, folks. <\/strong>Now that was a weekend, wasn\u2019t it? The Prime Minister\u2019s Office telegraphed late on Thursday that a big announcement was in the pipeline, but the size of the transaction and the speed with which officials have suggested the funding could hit our coffers were both (positive) surprises. <\/p>\n

We have full coverage of ADQ\u2019s blockbuster investment in Ras El Hekma in this <\/strong>morning\u2019s news well<\/strong>, below. <\/p>\n

BUT FIRST- Questions we\u2019ll be asking \u2014 and signs for which we\u2019ll be watching <\/strong>in the days ahead:<\/p>\n

#1- Expect a period of (relative) stasis until we see the central bank take action.<\/strong> Disaster has been averted in the short-to-medium term, that much is clear. Nobody yet knows where the EGP will settle, but with a lot of the pressure off policymakers, you can expect demand for other stores of wealth (gold, real estate, cars) to cool alongside the parallel market rate. Be ready to adopt a \u201cwait and see\u201d approach for a week or two. <\/p>\n

#2- There\u2019s been lots of talk in the past 36 hours about what the EGP is now worth <\/strong>\u2014 but little in the way of substance. Look for the picture to get a bit clearer today and tomorrow:<\/p>\n