February 6, 2023
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HomeForeign reserves

Foreign reserves

Egypt Latest News

Bloomberg: Satisfying the IMF Won’t Solve Egypt’s Economic Problems

February 1, 2019 Ahmed Rashed

When the Egyptian government signed an agreement with the International Monetary Fund in November 2016, it committed to the all-too-familiar austerity measures of subsidy cuts and tax hikes, in addition to the flotation of the [ More … ]

Egypt Latest News

Beltone Financial: “The Final Alert : Floatation Within Hours”

October 3, 2016 Ahmed Rashed

Egypt’s Beltone Financial said that they expect the Central Bank of Egypt (CBE) will float the pound “within hours,” considering the al-Sisi’s recent meeting with the CBE governor as a “final political endorsement” of the decision. Beltone [ More … ]

Egypt Latest News

Egypt’s Central Bank Likely to Increase Key Borrowing Costs Due to Inflation Surge

September 23, 2016 Ahmed Rashed

The Central Bank of Egypt will likely raise its key borrowing costs to the highest level in more than a decade, as it tries to curb surging consumer prices amid growing speculation of another currency [ More … ]

Egypt Latest News

Another Blow To Egypt’s Tourism, KLM Dutch Airlines Suspended Flights To Cairo

September 16, 2016 Ahmed Rashed

KLM Royal Dutch Airlines announced a shocking news that it has decided to temporarily suspend flights to Cairo effective on 8 January 2017 as a result of “economic reasons”, said Al-Watan, an Egyptian independent newspaper. [ More … ]

Egypt Latest News

Egypt Seeks To Sign Agreements With the European Investment Bank Worth EUR575 Million

September 11, 2016 Ahmed Rashed

The Ministry of International Cooperation said that Egypt is expecting to sign agreements with the European Investment Bank worth EUR575 million in the second half of October. According to a statement by the ministry citing [ More … ]

Egypt Latest News

UAE Deposits $1 Billion for a Duration of 6 Years to Egypt’s Central Bank

August 24, 2016 Ahmed Rashed

The UAE has agreed to pour Egypt’s central bank with a $1bn deposit for a duration of six years in a new show of support for Abdel Fattah al-Sisi, reported the BBC. Emirates News Agency [ More … ]

Egypt Latest News

Egypt’s Urban Consumer Inflation Hikes for the Third Straight Month

July 12, 2016 Ahmed Rashed

Despite the slogans that were chanted during January 25 Revolution in 2011 calling for ” bread, freedom and social justice”, however, Egypt is still living in what was called by Reuter’s Fortune as “The Economic Winter”. Egypt [ More … ]

Egypt Latest News

Egypt’s Foreign Currency Reserves Declining

June 21, 2016 Ahmed Rashed

The Egyptian economy is going through its worst fall for decades. Over the past five years, the Central Bank of Egypt has been suffering from declining foreign currency reserves as a result of the withdrawal [ More … ]

Latest

Destructive earthquake leaves 1500+ dead and about 10,000 injured so far in southeast of Turkiye

Turkey Latest News
February 6, 2023

Egypt: Leaks on a 99-year Suez Canal concession deal with an Israeli company

Egypt Latest News
February 5, 2023

Sudan and Israel agree to enhance ‘normalization’ of relations between them

Egypt Latest News
February 3, 2023

Egypt: ‘IMF bailout highlights risks of austerity and corruption’, rights report

Egypt Latest News
February 2, 2023

Egypt: Due to negligence, prisoner dies in police station despite ending 2 years on remand

Egypt Latest News
February 1, 2023
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