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Egyptian banks increase their SME credit by EGP 136bn in 3 years

Egyptian banks increased their SMEs credit by EGP 136bn from end-2015 till end-2018, benefiting about 522,000 foundations, Gamal Negm, deputy governor of the Central Bank of Egypt (CBE), said on Tuesday. The banking sector allocated 65% of its loans to the private sector, Negm said before an IMF conference on its paper about Financial Inclusion …

Hagar Omran

CBE to cut interest rate in March: Deutsche Bank

The Central Bank of Egypt (CBE) will cut interest rates next March, Deutsche Bank said in a research note. The bank also forecasts that the CBE is inclined to cut interest rates by 100 basis points next March, Enterprise reported. Deutsche Bank also expects that the CBE will keep interest rates unchanged in the first …

Nihal Samir

Egypt’s foreign reserves down to 42.551bn in December: CBE

Egypt’s foreign currency reserves fell to $42.551bn in December, down from a peak of $44.513bn in November, the Central Bank of Egypt announced on Monday. Net foreign reserves has been on an upward path, since Egypt signed a $12bn, three-year IMF loan in November 2016, and the adoption of the country’s ambitious economic reform programme. …

Daily News Egypt