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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
DNE sheds light on key performance indicators of banks operating in local market in April 2019
Locally operating banks receive 25% of EBRD funding portfolio in Egypt, says EBRD’s VP for Banking
Deposits up by EGP 1bn only as non-governmental deposits drop
The state’s household debt to the GDP slightly decreased to 7.2% in Q1 of 2019, compared to 7.4% in the same period of 2018, the report added.
Foreign investment in T-Bills reached about $11bn before 25 January 2011, but fell to less than $25m as of 2016.
Direction of capital flows depends on outlook for economic activity rate of growth, development of global trade tensions
Research note affirms strong expectations of interest rate cut by 100 bps in September or November
Bank accounts for 7.82% of loans, 5.17% of deposits in Egyptian banks by end-March 2019
Expected rise in inflation means CBE likely to keep interest rates unchanged for 3rd time in 2019
Investment bank expects inflation to temper at 13.3% in Q3 of 2019
Bank signs agreement to discuss situation of vehicles purchased by credit facilities
FX reserves increased to $44.352bn end of May: CBE
New electricity, fuel prices will hike monthly inflation: Saada