Pre-Trading Thoughts

Egypt's IMF loan review will come before the end of the year, Finance Minister said, without elaborating further. Head of the House Planning and Budget Committee, said the EGP would be pegged to a basket of hard currencies including the USD, EUR, JPY, and GBP, as well as gold, adding that the authorities will likely reach an agreement with the IMF in 1Q2024 on a new currency regime. The IMF calling on Egypt to rationalize tax exemptions and phase out fuel subsidies to improve public finance p...