Pre-Trading Thoughts

CBE and the Ministry of Finance announced that Egypt and the IMF have reached an agreement on the economic and structural policies and reforms for Egypt’s new IMF-backed economic reform program. Expats could send some EGP50 billion (c. USD2.5 billion) into Egypt under a cabinet program that will allow Egyptians living abroad to buy new cars in exchange for hard currency. The state has settled disputes with international companies to improve the investment environment and attract more foreign ...