Latest in Tag: US dollar shortage Highlight

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Latest in Tag: US dollar shortage


US dollar shortage negatively affects banks financing import operations, lending to projects with a foreign component

The US dollar shortage has negatively affected banks’ activities that are related to financing imports and lending to projects that include a foreign component, according to Amr Tantawy, managing director of Misr Iran Development Bank (MIDB) and board member of the Federation of Egyptian Banks’ (FEB) board of directors. Tantawy told Daily News Egypt that banks’ activities are divided between local and foreign trading …

Hossam Mounir

US dollar shortage threatens NCMP EGP 1.2bn expansion plan

The National Company for Maize Products (NCMP) is considering temporarily suspending its expansion plans worth EGP 1.2bn due to lower production volumes of the company. The lowering production rate is driven by recession in global markets as well as the ongoing US dollar price hikes in the Egyptian market. A senior source at NCMP, who …

Mohamed Ahmed

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