Cairo – Masrawy: Egypt secured a $3 billion loan on Friday, following approval by the Executive Board of the International Monetary Fund. About six years ago, Egypt began cooperating with the International Monetary Fund, and these are the funds it has obtained since then: Egypt took out a loan of around $12 billion in 2016 … Read more
Al-Marsad newspaper: The Saudi riyal recorded a new high against the Egyptian pound today, Thursday, as today’s trading began, and the Saudi riyal’s rally came in buying and selling operations in Egyptian banks. The price of the Saudi riyal in government banks, namely the national and Egyptian banks, reached £6.54 for buying and £6.56 for … Read more
2:26pm Wednesday 14 December 2022 I wrote – Shaima Hefzy: A Goldman Sachs report predicted that Egypt’s central bank will raise interest rates by 1% in a special meeting this week. The report, released this week, said the expected rise in interest rates comes to counter dollarisation, particularly as black-market dollar prices rose by more … Read more