Egypt
Central banks leverage multimedia communication channels
Around a third have added podcasts, mobile apps and blogs to their comms repertoire
The Belt and Road Initiative 2021 Survey – The impact of Covid‑19 on the BRI
The fourth annual Belt and Road Initiative survey reveals that the Covid‑19 pandemic has disrupted many projects despite China remaining committed to financing the initiative, which is expected to support future economic growth and environmental…
Egyptian central bank cuts policy rate again
Move is needed to support economy against second Covid-19 wave despite rising inflation, MPC says
Egyptian central bank fires head of largest commercial lender
Governor holds emergency meeting with lender’s board but nature of problems is unclear
Covid-19: a watershed moment for China’s BRI?
China faces a delicate balancing act when it comes to forgiving and restructuring Belt and Road Initiative debt while preserving the soundness of its financial institutions
The Belt and Road Initiative 2020 Survey – A more sustainable road to growth?
The third annual Belt and Road Initiative (BRI) survey reveals that central banks view BRI investment as sustainable compared with other forms of external debt, particularly given it is often proportionally less significant. Despite growing global trade…
People: Governors reappointed; Fed gets new CIO
Reappointments in Egypt and Palestine; Fed picks chief information officer; new financial stability head in Iceland
Egypt slashes rates by further 100bp
Sharp drop in inflation prompts easing by monetary policy committee
Egypt sharply cuts rates as inflation slides
Central bank resumes easing cycle, reducing rates by 150 basis points
Central Bank of Egypt holds rates despite lower inflation
Deposit rate remains at 15.75%; core inflation fell to 6.4% in June from 7.8% in May
Egypt sharply cuts rates on lower inflation
Central bank reduces key overnight deposit rate by 100 basis points to 15.75%
Egypt strikes deal for increased funding from global banks
Central bank increases funding from repo operation to $3.8 billion
Egyptian central bank pledges to write off companies’ debt in ‘crisis’ measures
Debt relief and increased funding could cost up to $5.6 billion, governor says
The winners of the 2018 Central Banking Awards
Bank of Canada wins Central Bank of the Year, Lesetja Kganyago picks up Governor of the Year and Perng Fai-nan receives Lifetime Achievement Award; 16 more awards unveiled
IMF welcomes reform progress in Egypt
A flexible exchange rate and tighter policy have helped stabilise the economy
Central Banking Awards: Perng Fai-nan recognised for lifetime achievements
The first four 2018 Central Banking Awards are unveiled – banknote and currency management, consultancy, innovation in reserve management, and lifetime achievement
Innovation in reserve management: HSBC
The global bank stepped in during Egypt’s economic crisis, arranging a private funding package that proved instrumental in turning around the country’s fortunes
Egypt’s new banknote facility to be built by G&D
German firm awarded over $300 million for successful tender which will see “majority” of Egypt’s banknotes printed at the plant
Central Bank of Egypt hikes rate in bid to rein in rapid inflation
Inflation is starting to slow after impact of devaluation but is still running at close to 30%, the central bank says
Central Bank of Egypt battles to contain devaluation impact
Inflation has rocketed since Egypt aligned official and black market exchange rates, forcing the central bank to take action
Money targeting key to Egypt reform programme
Central bank to maintain flexible exchange rates and keep a close rein on the money supply as IMF pledges $12 billion support
Egypt announces $2 billion deal to bolster reserves as Lagarde set to recommend IMF aid
IMF chief asks the board for $12 billion loan over three years to support “ambitious” reforms
Central Bank of Egypt devalues currency
Egyptian pound falls 32% as central bank moves to align official and black market rates; IMF mission chief welcomes additional exchange rate flexibility
Egypt PM signals move to unify exchange rates
Sherif Ismail tells parliament central bank will soon unify black-market and official rates; IMF moving closer to agreement on funding