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External debt-to-GDP ratio 36% in Egypt, 48.5% in Latin America, 47.5% in Middle East
CBE to hold 9 MPC meetings this year
Economist and banking analyst for HC, Monette Doss said, “Annual December inflation accelerated to current levels due to unfavorable base effect, while monthly inflation declined for the second consecutive month driven by decreasing food prices as the government continues to make efforts avoiding possible supply shocks and ensuring the availability of basic food items at reduced prices
Tourism is a major and important pillar for the national economy: CBE
Committee membership includes Negm, Aboul Naga, Omran, El Araby, and El Ahwany
Growing value of gold reserves pushes FX reserves to its highest level at 2019-end
Appreciation of currency, lower interest rates, price cuts across consumer goods, and stability of fuel costs
Moreover, the most prominent issues the market faced last year was liquidity and low purchasing power. Real estate stakeholders expect that it will be one of the challenges that will face the market in the new year due to high prices of services with fixed wages.
The proceeds of the tender goes to repay a previous tender offered on 8 January 2019 worth $845.1m
New board includes financial, legal, technological and economic expertise alongside the governor, deputies
The proceeds of the tender goes to repay a previous tender worth $845.1m offered on 8 January 2019
The road is now more paved than ever for the CBE to follow inflation targeting, says analyst
EGP 306bn increase in the total financial position of banks to reach about EGP 5.822trn
To return to 2010 tourism revenue rates, Egypt must diversify tourism markets, with more cooperation between Tourism and Civil Aviation Ministries, says expert
Top five banks hold 48.98% of total profits, and biggest 10 gain EGP 42.13bn
After four interest cuts since the beginning of 2019, analysts and bankers have different expectations of MPC’s decision
CIB, QNB, Credit Agricole, and ADIB are the main beneficiaries of the decision
The CBE decided to keep the maximum for personal housing loans at 40% of the total monthly income.
We expect annual inflation to rise in December to 7.3%, which is much less than the CBE’s target, in line with the monetary easing policy, says Monette Doss
The ECG said that the CBE headquarters in the NAC will be built on an area of 130,000 sqm.
Moreover, the remittances of Egyptian expats in September hiked about $2.3bn, recording a month-over-month increase of 33.2%, equivalent to $581.2m, compared to about $1.8bn in August. It also recorded a year-over-year increase of 32.8% compared to September 2018, the CBE added.
Why the US dollar broke the EGP16 barrier and where to next?
Bank to exempt pre-2011 defaulters in tourism sector from marginal interests on their loans
One-third of bank’s customers has beem registered in its e-services
Annual headline Inflation rose to 2.7% from 2.4% in October
The initiative will benefit about 96,000 factories that meet the conditions for the initiative: says deputy governor of the CBE
CBE floated five bill tranches worth $5.1432bn in 2019
Directives from president to allocate EGP 100m for industry sector, EGP 50bn for medium housing with 10% interest
Gold reserves decline, SDR countered FX hike, curbing net foreign reserves increase to $107m in November, according to CBE
The initiative is expected to be announced next Wednesday