Tag: IMF
Fitch Ratings downgrades Egypt’s sovereign credit rating
Egypt’s external financing risk has increased given the country’s high external financing requirements
Morocco secures $5 billion flexible credit line from IMF
Morocco has benefited from four successive precautionary and liquidity line arrangements amounting to about $3 billion since 2012
Tunisia’s banking sector faces uncertain prospects, says S&P Global
Tunisia’s banks are navigating major uncertainty and significant macroeconomic pressure as the North African country seeks to secure an International Monetary Fund (IMF) to...
Egyptian pound plunges to record low against the US dollar
Egypt’s pound plunged further on Wednesday reaching a record low of 31.4 to the dollar as the North African country moved to a more...
Egypt’s central bank hikes key interest rates by 300 bps
Egypt hiked overnight interest rates by a more-than-expected 300 basis points (bps) on Thursday, the most since 2016, as part of the authorities’ broader...
IMF reportedly expects Egypt to switch to flexible exchange end of December
The International Monetary Fund (IMF) is expecting Egyptian authorities to switch to a flexible exchange rate after a requirement to finance imports through letters...
IMF executive board approves $3 billion Egypt extended arrangement
The International Monetary Fund (IMF) said Saturday that its executive board has approved a 46-month $3 billion financial support package for Egypt which is...
Egypt’s headline inflation jumps to five-year high in November
Egypt’s annual urban consumer inflation soared to a five-year high of 18.7% in November, data from state-run statistics agency CAPMAS showed Thursday, as the...
Egypt’s net foreign reserves rise slightly to $33.4 billion in October
Egypt’s net foreign reserves increased slightly for the second month in a row last month as the North African country awaits the increase in...
Egypt devalues pound again, clinches $3 billion IMF deal
Egypt’s pound plunged to a record low against the dollar on Thursday after the central bank unveiled plans to move to a more flexible...