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IMF confirms that using interest rate is the right tool to face inflation in Egypt, the market excludes the possibility of increasing the interest rate
Recent CBE reports explain inflation hitting 25% at end of December 2016
In order to be able to discuss sustainable development in Egypt, we must first be in agreement as to what sustainable development means. The scientific and international concept of sustainable development can be defined as development that meets the current needs of humans without compromising the ability of future generations to meet their own needs. …
The Central Bank of Egypt (CBE) has allowed banks working in the domestic market to direct part of their proceeds denominated in US dollars to cover customers’ temporarily overdraft accounts. According to the CBE’s instructions received by banks on Tuesday, after covering imports on essential goods banks can direct 50% of their hard cash towards …
The price of the US dollar dropped below EGP 16, with expectations that it will continue to decline
Sawiris called on the Egyptian people to support the CBE’s decision
Banks will sell US dollars at EGP 8.95, up from EGP 7.83
New tender to be issued to pay off old bills worth $1.17bn offered on 16 December 2014
International reserves record lowest level in 1.5 years
The conference, hosted in Sharm El-Sheikh, is being held in cooperation with the Central Bank of Egypt (CBE) and the Federation of Egyptian Banks (FEB).
The bank is able to face all challenges in spite of unfavourable circumstances over the last four years
There is large exit for local investments from market because of production cessation and losses, says Engineering Industries Export Council head
Government has to pay $250m in September as dues of bonds issued in international market
Dollar price stabilises between EGP 7.78 and EGP 7.83 at banks, and EGP 7.88 at exchanges
Matar says amount to be collected within current fiscal year
The figures show that domestic liquidity now registers EGP 1.109bn (7.3%) during the first half of fiscal year (FY) 2014/2015.
CBE explained that it has reduced its overnight deposit rate, overnight lending rate and the rate of CBE’s main operation to 8.75%, 9.75% and 9.25% respectively.
Annual urban consumer inflation amended to 11.04% instead of 10.61% in July
EBI conference this year encourages banks to adopt more sustainable practices