{"id":642063,"date":"2017-08-06T03:53:21","date_gmt":"2017-08-06T03:53:21","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2017\/08\/06\/egypts-rising-fx-reserves-should-not-overshadow-remaining-economic-challenges\/"},"modified":"2017-08-06T03:53:21","modified_gmt":"2017-08-06T03:53:21","slug":"egypts-rising-fx-reserves-should-not-overshadow-remaining-economic-challenges","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2017\/08\/06\/egypts-rising-fx-reserves-should-not-overshadow-remaining-economic-challenges\/","title":{"rendered":"Egypt\u2019s rising FX reserves should not overshadow remaining economic challenges"},"content":{"rendered":"<p><strong>The increase in the central bank\u2019s reserves has been driven by \u201cheavy <\/strong><strong>external borrowing as investors pour money into Egyptian assets,\u201d<\/strong> <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2017-08-03\/egypt-fuels-record-reserves-with-external-debt-surge-chart\">Bloomberg\u2019s Ahmed Feteha suggests<\/a>. Praising the increase in the reserve build up, <a href=\"https:\/\/www.thenational.ae\/business\/comment\/rising-forex-reserves-a-positive-sign-for-egypt-1.616551\">The National's editorial board<\/a> suggests that <strong>a number of challenges remain for the Egyptian economy<\/strong>. The Abu Dhabi-based publication believes that the EGP is \u201cnot yet fully convertible\u201d and is not \u201cfreely traded against the [USD]\u201d as other currencies. Egypt also faces other economic challenges, including increasingly high rates of poverty and unemployment. They suggest that Egypt needs to increase investments in education and healthcare to \u201cproduce more fit graduates\u201d capable of leading the country.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The increase in the central bank\u2019s reserves has been driven by \u201cheavy external borrowing as investors pour money into Egyptian assets,\u201d Bloomberg\u2019s Ahmed Feteha suggests. Praising the increase in the reserve build up, The National's editorial board suggests that a number of challenges remain for the Egyptian economy. The Abu Dhabi-based publication believes that the [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":642064,"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-642063","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-speed-round","tag-enterpriseam","tag-speed-round","wpautop","entry"],"acf":{"mongo_id":"5157cef3-a7f4-4d16-96b3-790145dcd04a","order":"0","is_powered_by":true,"section_story_id":"830bc74b-081b-489a-9491-b5ff2af116d9","story_type":"1","photo_url":"https:\/\/ent.news\/2017\/8\/555.png","photo_position":"above","related_issue":[642044],"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>Egypt\u2019s rising FX reserves should not overshadow remaining economic challenges - 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\/2017\/08\/06\/egypts-rising-fx-reserves-should-not-overshadow-remaining-economic-challenges\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Egypt\u2019s rising FX reserves should not overshadow remaining economic challenges\" \/>\n<meta property=\"og:description\" content=\"The increase in the central bank\u2019s reserves has been driven by \u201cheavy external borrowing as investors pour money into Egyptian assets,\u201d Bloomberg\u2019s Ahmed Feteha suggests. Praising the increase in the reserve build up, The National&#039;s editorial board suggests that a number of challenges remain for the Egyptian economy. The Abu Dhabi-based publication believes that the [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/egypt\/2017\/08\/06\/egypts-rising-fx-reserves-should-not-overshadow-remaining-economic-challenges\/\" \/>\n<meta property=\"og:site_name\" content=\"EnterpriseAM Egypt\" \/>\n<meta property=\"article:published_time\" content=\"2017-08-06T03:53:21+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/i0.wp.com\/ent.news\/2017\/8\/555.png?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=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2017\/08\/06\/egypts-rising-fx-reserves-should-not-overshadow-remaining-economic-challenges\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2017\/08\/06\/egypts-rising-fx-reserves-should-not-overshadow-remaining-economic-challenges\/\"},\"author\":{\"name\":\"enterpriseam admin\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\"},\"headline\":\"Egypt\u2019s rising FX reserves should not overshadow remaining economic challenges\",\"datePublished\":\"2017-08-06T03:53:21+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2017\/08\/06\/egypts-rising-fx-reserves-should-not-overshadow-remaining-economic-challenges\/\"},\"wordCount\":122,\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#organization\"},\"image\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2017\/08\/06\/egypts-rising-fx-reserves-should-not-overshadow-remaining-economic-challenges\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/i0.wp.com\/ent.news\/2017\/8\/555.png?fit=%2C&ssl=1\",\"keywords\":[\"EnterpriseAM\",\"SPEED ROUND\"],\"articleSection\":[\"Speed Round\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2017\/08\/06\/egypts-rising-fx-reserves-should-not-overshadow-remaining-economic-challenges\/\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/2017\/08\/06\/egypts-rising-fx-reserves-should-not-overshadow-remaining-economic-challenges\/\",\"name\":\"Egypt\u2019s rising FX reserves should not overshadow remaining economic challenges - 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The Egyptian Exchange is currently processing SODIC\u2019s request for the hike, which will\u2026","rel":"","context":"In &quot;Speed Round&quot;","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":596214,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/08\/21\/egyptian-economy-resilient-but-further-reform-needed-to-sustain-growth-iif\/","url_meta":{"origin":642063,"position":1},"title":"Egyptian economy resilient, but further reform needed to sustain growth- IIF","author":"enterpriseam admin","date":"21 August 2019","format":false,"excerpt":"The Egyptian economy has proven resilient, but further reform is needed to sustain growth- IIF: Egypt is in a strong and \u201cresilient\u201d position three years after the start of the IMF-backed reform program, but there are still structural challenges to overcome to sustain economic growth, the Institute of International Finance\u2026","rel":"","context":"In &quot;Speed Round&quot;","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2019\/8\/622.png?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":644705,"url":"https:\/\/enterpriseam.com\/egypt\/2017\/07\/02\/fitch-affirms-egypts-credit-rating-at-b-outlook-stable\/","url_meta":{"origin":642063,"position":2},"title":"Fitch affirms Egypt\u2019s credit rating at B, outlook stable","author":"enterpriseam admin","date":"2 July 2017","format":false,"excerpt":"Ratings agency Fitch has affirmed Egypt's Long-Term Foreign- and Local-Currency Issuer Default Ratings at B with a stable outlook. The main factors that Fitch says, individually or collectively, could lead to a positive action are: Continued progress on fiscal consolidation leading to declining government debt\/GDP, sustained stronger economic growth supported\u2026","rel":"","context":"In &quot;Speed Round&quot;","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":630896,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/03\/05\/reserves-at-the-central-bank-hit-usd-42-5-bn-in-february-their-biggest-jump-since-july\/","url_meta":{"origin":642063,"position":3},"title":"Reserves at the central bank hit USD 42.5 bn in February, their biggest jump since July","author":"enterpriseam admin","date":"5 March 2018","format":false,"excerpt":"Reserves record their biggest jump since July: The central bank\u2019s FX reserves recorded USD 42.5 bn in February from USD 38.2 bn in January \u2014 reaching another highest-ever mark. The USD 4.3 bn m-o-m increase is only dwarfed in recent years by the USD 4.7 bn recorded last July. The\u2026","rel":"","context":"In &quot;Speed Round&quot;","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":626047,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/08\/29\/moodys-upgrades-outlook-on-egypt-to-positive-reaffirms-long-term-issuer-rating-at-b3\/","url_meta":{"origin":642063,"position":4},"title":"Moody\u2019s upgrades outlook on Egypt to positive, reaffirms long-term issuer rating at B3","author":"enterpriseam admin","date":"29 August 2018","format":false,"excerpt":"Moody\u2019s upgrades outlook on Egypt to positive as it reaffirms long-term issuer rating at B3: Moody\u2019s Investor Service reaffirmed Egypt\u2019s long-term issuer rating at B3 and upgraded its outlook to \u2018positive\u2019 from \u2018stable,\u2019 saying the decision reflects improvements in the economic and business environment as a result of the ongoing\u2026","rel":"","context":"In &quot;Speed Round&quot;","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":647471,"url":"https:\/\/enterpriseam.com\/egypt\/2017\/05\/11\/fx-problems-in-egypt-starting-to-fade-bloomberg\/","url_meta":{"origin":642063,"position":5},"title":"FX problems in Egypt starting to fade -Bloomberg","author":"enterpriseam admin","date":"11 May 2017","format":false,"excerpt":"The easing of bank restrictions on credit card usage abroad is another sign that the foreign exchange problems \u201chave finally been dealt with and started to fade,\u201d Capital Economics\u2019 Jason Tuvey tells Bloomberg. \u201cWe\u2019ve seen a sharp increase in foreign-exchange reserves, and there\u2019s been a flow of [USD] that was\u2026","rel":"","context":"In &quot;Speed Round&quot;","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":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/642063","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=642063"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/642063\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/642044"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/642064"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=642063"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=642063"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=642063"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=642063"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=642063"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}