Published 1 year ago

Analysis: Egypt not out of the woods after IMF rescue deal

Summary by Ground News

Egypt's debt interest payments set to soak up over 40% of the government's revenues next year. Investors remain cautious despite a post-IMF bounce in sentiment. The Egyptian pound's black market rate of 26-26.5 per dollar is still 8% below the 24.53 official rate.

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Reuters

Analysis: Egypt not out of the woods after IMF rescue deal

Egypt's finances remain in a precarious state despite two major currency devaluations this year and a brand new $3 billion International Monetary Fund rescue package, economists say.

1 year ago·United Kingdom

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