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Activities of Arab Financial Inclusion Day resulted in opening of 1m accounts in Egyptian banking sector within 4 years
Meetings discuss latest economic, financial, monetary developments, banking supervision, financial stability, inclusiveness, and modern financial technologies, according to AMF
Banks’ credit facilities see EGP 224.7bn rise, private business sector holds 60.7%
Domestic debt records 79% of GDP, of which 86.4% is owed by the government, 7.3% by public economic bodies and 6.3% by National Investment Bank
EFG Hermes, Pharos forecast 1-2% interest rate cut at next MPC meeting
‘We offer European expertise to MCIT for further elaboration of e-commerce Law,’ says Surkoš
Largest ten banks in Egypt hold more than 81% of credit and debit cards
Investors’ shift from T-Bills to T-Bonds reflects positive change in their macroeconomic outlook of Egypt
CBE’s decision to reduce interest rates reflects favourable inflationary trends, says Lall
Value of gold reserve rises by $265m, decrease in foreign currencies value by $135m
Budget deficit projected to decrease to 8.2%, 7.2% of GDP in FY 2018/19-2019/20, respectively
Government sources told Daily News Egypt that the decision was taken by the Minister of Finance, Mohamed Moeit, to unify procedures for all customs’ items.
Private sector accounts for 60.8% of total facilities, with industry in the lead, says CBE
The CBE said in a recent report that these debts include $21bn of interest on paid loans and $5bn of debt services.
“We must increase the issuance of an integrated plan for property export and coordination between all parties to promote this industry,” he explained.
Banks cut interest rates amid noticeable reservation so as not to affect their liquidity in local currency
Yield on T-bills on Sunday’s auction dropped by 0.75-1.5%
Government welcomes decision, investment banks forecast further cuts by end-2019, depositors are most affected,
Experts forecasts further cut before end-2019, debt instruments remain attractive
CBE slashed overnight deposit rate, lending rate, and the rate of main operation to 14.25%, 15.25%, and 14.75%, respectively.
Falling inflation and US interest paves the way for CBE to cut its core interest rates, say analysts
CBE set accepted yield minimum at 1.4%, maximum at 1.5%, average at 1.49%
Future interest rate cuts to ease government’s debt service burden, say economic experts
Inflation continued to slow in July despite subsidy reforms influenced by its reading in the comparative period and its low reading in June
The CBE affirmed that these standards comes in the framework of the CBE’s continuous endeavour to maintain the sound performance of the banking system.
According to the CBE, Egypt’s current net foreign reserves covers more than 8 months of commodity imports.
New standard reinforces CBE’s ability to improve monetary policy
Foreign debt reached 35.1% of GDP at end December 2018, compared to 61.4% of GDP in European coutnries, EMs, and 41.9% in Commonwealth countries
Saudi Arabia is Egypt’s top lender with total debt of $8.7bn
Deepening and broadening of Egypt’s effective reforms is critical to underpin the positive outlook for growth and unemployment of the country, David Lipton, the International Monetary Fund (IMF) Acting Managing Director