pound devaluation

IMF advises Egypt to remove remaining fuel subsidies
Economy

IMF advises Egypt to remove remaining fuel subsidies

In the International Monetary Fund’s (IMF) latest Regional Economic Outlook on Egypt that was released on Tuesday, the international lender…
Average yields on Egypt’s 3- and 7-year T-bonds rise at auction
Economy

Average yields on Egypt’s 3- and 7-year T-bonds rise at auction

Average yields on Egypt’s three-year and seven-year treasury bonds rose at an auction on Monday, central bank data showed. The…
Growth rate has increased due to investment surge: Planning Minister
Economy

Growth rate has increased due to investment surge: Planning Minister

  Egypt’s Minister of Planning Hala Al-Saeed said Thursday that a rise in investments in the country has contributed to…
Egypt currency floatation drives up budget deficit
Business

Egypt currency floatation drives up budget deficit

The decision to float the Egyptian pound caused confusion and revealed flaws in government estimates, which led, in preliminary indicators,…
IMF keen to support Egyptian economy with loan, boosting jobs: PM
Egypt

IMF keen to support Egyptian economy with loan, boosting jobs: PM

The Egyptian Prime Minister Sherif Ismail has commented on the planned visit of an International Monetary Fund (IMF) delegation, saying…
Egypt’s central bank says not time to float pound, devaluation depends on timing
Business

Egypt’s central bank says not time to float pound, devaluation depends on timing

Egypt's central bank governor said on Wednesday that the time was not right to float the Egyptian pound, which has…
Egypt’s central bank sells US$118.7 million at Tuesday auction
Business

Egypt’s central bank sells US$118.7 million at Tuesday auction

Egypt's central bank sold US$118.7 million at its regular rate of 8.78 to the dollar at Tuesday's sale.Egypt's pound strengthened…
MIDEAST STOCKS: Egypt resumes post-devaluation uptrend, Gulf moves little
Business

MIDEAST STOCKS: Egypt resumes post-devaluation uptrend, Gulf moves little

Egypt's stock market resumed rising on Monday after soaring last week in response to a currency devaluation, while most Gulf…
Egypt’s central bank to hold FX auctions once a week – bankers
Business

Egypt’s central bank to hold FX auctions once a week – bankers

Egypt's central bank will from now on hold one foreign currency auction per week on Tuesdays, when it will sell…
Pound devaluation will hit pharmaceutical industry hard: official
Egypt

Pound devaluation will hit pharmaceutical industry hard: official

Leaders of Egypt's pharmaceuticals sector are seeking measures to mitigate the negative impacts of the recent devaluation of the Egyptian…
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