Pre-Trading Thoughts

The IMF now expects the Egyptian economy to expand at a 5.9% clip in FY 2021-2022, and 5.0% in FY 2022-2023. The IMF pointed out in one of its meetings that Egypt has obtained a "rapid financing", with no further details. The IMF revised its projection for global growth from an estimated 6.1% in 2021 to 3.6% in both 2022 and 2023. Minister of Finance formed a committee headed by the Minister of Planning to assess external borrowing and control its growth within the narrowest limits. The gover...