Egypt
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
People: Haitian ex-governor appointed prime minister; Egyptian ex-governor rejoins largest bank
Ex-governor becomes interim premier amid severe political instability; Egyptian ex-governor returns to country’s largest commercial bank; Venezuelan central bank appoints new director
Egypt central bank ‘kept eyes on inflation’ as it devalued currency
Head of risk at Central Bank of Egypt says the institution considered wider impact of devaluations on the economy; staff welcomed new governor last week
Egyptian presidency picks deputy governors and board members at central bank
President el-Sisi appoints a new deputy governor and three new members to Egypt’s central bank board, while one incumbent deputy receives a second term
Egyptian governor to resign early with former deputy waiting in wings
Hisham Ramez, governor of Egypt’s central bank, announces early resignation; successor urged by country’s President to ensure citizens have access to ‘basic goods’ after subsidy cuts
Central Bank of Egypt seeks help at home and abroad to shore up currency reserves
CBE governor wins $3bn in grant and interest-free loans from the UAE; bank launches ‘Egypt support' fund amid political unrest
No ‘credit crunch' in the Middle East after Basel I, IMF paper finds
Despite higher capital adequacy ratios, banks expanded credit and asset growth, according to new research
Central Bank of Egypt hikes rates as reserves dwindle and inflation rises
Monetary Policy Committee agrees 50 basis point rise despite ‘feeble’ growth, as inflation shows highest rise since 2010 and reserves fall to critical levels
Egypt takes new steps to halt economy's downward slide
Central bank adjusts exchange rate rules as Egyptian government announces it will complete its economic reform plan by the end of this week
People: Egypt deputy resigns; HKMA shuffles pack
Egypt's first female deputy governor follows her boss to the exit; HKMA assigns three executive director portfolios
Egypt appoints new central bank governor
Egyptian central bank governor resigns, replaced by former deputy; negotiations ongoing with the IMF
Central Bank of Egypt grapples with falling currency
Egyptian pound continues fall after currency auctions by central bank; follows rating downgrade as concerns raised over impact of political turmoil and weakening economy
Arab Spring countries boast higher credit limits, says Finnish paper
Bank of Finland research shows Middle Eastern and North African countries that experienced uprisings lend more to small businesses