Will Egypt postpone devaluation of pound until end of June? ...Egypt

Citigroup anticipates that the Central Bank of Egypt may resort to delaying the devaluation of the Egyptian pound against the US dollar until at least the end of June, which has prompted traders to lower their expectations regarding the devaluation. Credit rating institutions are calling on the Egyptian government for a more flexible exchange rate which reflects the country’s external financing needs, according to supply and demand. A flexible exchange rate is also a major demand of the International Monetary Fund, since it signed a financing agreement with Egypt worth three billion dollars at the end of 2022. Bloomberg reported Citigroup analyst Luis Costa saying that allowing another sharp

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