{"id":626048,"date":"2018-08-29T03:50:21","date_gmt":"2018-08-29T03:50:21","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2018\/08\/29\/higher-fx-reserves-decelerating-inflation-to-maintain-egps-stability-through-2018\/"},"modified":"2018-08-29T03:50:21","modified_gmt":"2018-08-29T03:50:21","slug":"higher-fx-reserves-decelerating-inflation-to-maintain-egps-stability-through-2018","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2018\/08\/29\/higher-fx-reserves-decelerating-inflation-to-maintain-egps-stability-through-2018\/","title":{"rendered":"Higher FX reserves, decelerating inflation to maintain EGP\u2019s stability through 2018"},"content":{"rendered":"

<\/a> Higher FX reserves, decelerating inflation to see EGP stable through the end of the year?<\/strong> The EGP is unlikely to see any major fluctuations through the remainder of 2018 and potentially into 1H2019, Beltone Financial\u2019s Director of Macro and Strategy Alia Mamdouh tells Bloomberg TV. Why? Look no further than record-high FX reserves and the narrowing inflation differential between Egypt and the US\u2019 headline inflation rate, she said. Mamdouh took note of improvements in the supply side of foreign currency on the back of rebounding tourism, which has led to a healthier balance of payments and current account.<\/p>\n

Interest rates are also likely to remain stable for the time being<\/strong>, particularly as emerging markets have been raising their rates to offset turbulent market conditions. Mamdouh doesn\u2019t expect any cuts until 1Q2019, when we might see a 100 bps reduction.<\/p>\n

External borrowing is still going to weigh on the economy:<\/strong> The government has a USD 5 bn bond issuance penciled in for sometime this fiscal year, but is looking to shift towards relying more on long-term debt, Mamdouh stressed. Finance Minister Mohamed Maait had previously told us<\/a> his ministry will not begin considering a foreign currency-denominated bond issuance for another two months, at which time market conditions will be an important factor.<\/p>\n

You can catch the full interview here<\/strong> (runtime: 3:38<\/a>).<\/p>\n","protected":false},"excerpt":{"rendered":"

Higher FX reserves, decelerating inflation to see EGP stable through the end of the year? The EGP is unlikely to see any major fluctuations through the remainder of 2018 and potentially into 1H2019, Beltone Financial\u2019s Director of Macro and Strategy Alia Mamdouh tells Bloomberg TV. Why? Look no further than record-high FX reserves and the […]<\/p>\n","protected":false},"author":1,"featured_media":626049,"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":[8572],"tags":[72,2380],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-626048","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-speed-round","tag-enterpriseam","tag-speed-round","wpautop","entry"],"acf":{"mongo_id":"3bd7f63d-73a7-4bef-916a-a941ef8ccdf2","order":"0","is_powered_by":true,"section_story_id":"4d948a3c-7792-4805-b6cf-45c221739b28","story_type":"1","photo_url":"https:\/\/ent.news\/2018\/8\/1268.jpg","photo_position":"above","related_issue":[626040],"teaser":"","voice_url":""},"yoast_head":"\nHigher FX reserves, decelerating inflation to maintain EGP\u2019s stability through 2018 - 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\/2018\/08\/29\/higher-fx-reserves-decelerating-inflation-to-maintain-egps-stability-through-2018\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Higher FX reserves, decelerating inflation to maintain EGP\u2019s stability through 2018\" \/>\n<meta property=\"og:description\" content=\"Higher FX reserves, decelerating inflation to see EGP stable through the end of the year? The EGP is unlikely to see any major fluctuations through the remainder of 2018 and potentially into 1H2019, Beltone Financial\u2019s Director of Macro and Strategy Alia Mamdouh tells Bloomberg TV. Why? 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Corporations are now \u201creaping the benefits\u201d of the float after earnings initially took on the chin as inflation soared to highs of\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\/2019\/11\/1482.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":569410,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/02\/24\/strengthening-egp-to-put-pressure-on-corporate-earnings-pharos\/","url_meta":{"origin":626048,"position":1},"title":"Strengthening EGP to put pressure on corporate earnings -Pharos","author":"enterpriseam admin","date":"24 February 2020","format":false,"excerpt":"Strengthening EGP to put pressure on corporate earnings -Pharos: Corporate earnings will come under pressure over the next four quarters as the EGP continues to strengthen against the USD, Pharos Holding\u2019s head of research Radwa El Swaify wrote in a report. The research house forecasts the currency changing hands in\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":595265,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/09\/22\/enterprise-poll-central-bank-of-egypt-could-cut-interest-rates-again-this-week\/","url_meta":{"origin":626048,"position":2},"title":"Enterprise Poll: Central Bank of Egypt could cut interest rates again this week","author":"enterpriseam admin","date":"22 September 2019","format":false,"excerpt":"SURVEY- The Central Bank of Egypt (CBE) could cut benchmark interest rates by 50-150 bps when its Monetary Policy Committee (MPC) meets this Thursday, according to seven of eight economists polled by Enterprise. The economists cited the unexpected inflation rate in August, which dropped to the lowest level in six-and-a-half\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\/2018\/11\/1115.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":621447,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/11\/08\/how-much-longer-can-the-banking-system-support-fx-outflows-without-the-central-bank-releasing-some-reserves\/","url_meta":{"origin":626048,"position":3},"title":"How much longer can the banking system support FX outflows without the central bank releasing some reserves?","author":"enterpriseam admin","date":"8 November 2018","format":false,"excerpt":"How much longer can the banking system support FX outflows without the central bank releasing some reserves? We all know that FX has been leaving Egypt has hot money has pulled out of Egypt as the EM Zombie Apocalypse has unfolded. So why have reserves at the Central Bank of\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\/2018\/11\/935.png?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":599688,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/01\/08\/egypts-fx-reserves-fall-for-first-time-after-egp-float\/","url_meta":{"origin":626048,"position":4},"title":"Egypt\u2019s FX reserves fall for first time after EGP float","author":"enterpriseam admin","date":"8 January 2019","format":false,"excerpt":"Foreign reserves have fallen for the first time in two years: Egypt\u2019s net foreign reserves fell in December for the first time since the currency float, coming at USD 42.551 bn fromUSD 44.513 bn at the end of November, the CBE said yesterday. The fall is attributed to year-end interest\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":598211,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/05\/19\/are-em-central-banks-departing-from-monetary-economics-orthodoxy-to-keep-inflation-in-check\/","url_meta":{"origin":626048,"position":5},"title":"Are EM central banks departing from monetary economics orthodoxy to keep inflation in check?","author":"enterpriseam admin","date":"19 May 2019","format":false,"excerpt":"Are EM central banks departing from monetary orthodoxy to keep inflation in check? Emerging market central banks are indirectly intervening in currency markets to contain inflation, General Manager of the Bank for International Settlements (BIS) Agust\u00edn Carstens said in a speech earlier this month at the London School of Economics.\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\/2019\/4\/EGP-USD-1600px.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/626048","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=626048"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/626048\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/626040"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/626049"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=626048"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=626048"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=626048"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=626048"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=626048"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}