Financial institutions in Egypt
-
Rapid currency slide chokes business in Egypt
Factories are halting production, shops are running low on stocks and a sense of panic is spreading.
-
IMF’s Lagarde says there is a ‘crisis’ in Egypt’s currency market
Egypt is turning to the IMF as it seeks to restore investor confidence in an economy that’s been undermined by persistent political unrest.
-
A Necessary But Insufficient Devaluation
As previous devaluations show, it is necessary to have a sufficient liquidity shield to maintain control over Forex market.
-
Egypt cabinet to cut its spending by 15-20 pct, diplomatic missions personnel in half
The measure comes amid attempts to address Egypt's economic crisis, including an acute dollar shortage and surging inflation.
-
NBE reduces foreign exchange cash limit for travelling customers
The bank provides cash for foreign exchange only on condition of reviewing customers' travel documents.
-
US working with G7 countries to fund IMF Egypt progra
IMF officials have said that they have held discussions on bilateral financing for Egypt with Saudi Arabia, China, and G7 countries.
-
Banque Misr requires customers to provide travel documents to use cards abroad
These new controls are designed to prevent cards abuse, says bank chairperson.
-
Cairo maintains 5th place as top tourist destination in Middle East and Africa
Cairo registered a 1.5% growth rate in the number of international overnight visitors in 2015/2016, says MasterCard Global Destinations Cities index.
-
Egypt receives $2 billion Saudi deposit in IMF deal financing
The deposit came despite fears that recent tensions between Cairo and Riyadh would see Saudi Arabia back away from supporting Egypt.
-
Egypt inches toward IMF bailout as shortages, prices enrage
Egypt still needs $2 billion in foreign reserves to reach a position of strength with the IMF before it starts to gradually float its currency.