Pre-Trading Thoughts

In line with IMF directives, the government is committed to have energy prices reach cost recovery levels by the end of the year. The Prime Minister said that the government set a target inflation rate at 10% by 2026. The IMF's mission chief to Egypt, stated that the fifth review of Egypt's loan program will take place before the end of June, according to the current schedule for disbursing tranches. After a sharp wave of outflows, foreign and Arab investors in the local debt market shifted t...