EghtesadOnline: The International Monetary Fund approved a $12 billion loan program for Egypt to restore investor confidence and help revive an economy battered by years of political turmoil.
EghtesadOnline: Egypt’s annual inflation rate dropped for the first time since March, providing a rare respite from soaring prices as officials prepare a devaluation to secure a $12 billion loan from the International Monetary Fund.
EghtesadOnline: Egypt has “almost completed” the actions required for the International Monetary Fund’s board to review its $12 billion loan accord, but some measures related to the exchange rate and subsidies are still pending, Managing Director Christine Lagarde said on Saturday.
EghtesadOnline: Egyptian stocks advanced the most in more than two months as investors bet that policy makers may devalue the country’s currency as soon as this week, luring back foreign investors and giving a lift to an embattled economy.
EghtesadOnline: Egypt’s central bank, which unexpectedly left borrowing costs unchanged last week, is keeping its powder dry for what one economist called a “super” rate increase.