Egypt, IMF agreement on new loan might be accompanied with Egyptian pound devaluation ...Egypt

EGYPT INDEPENDENT - Economy
Egypt, IMF agreement on new loan might be accompanied with Egyptian pound devaluation
source : EGYPT INDEPENDENT ( Egypt ) () 36
Capital Economics, an independent economic research business based in the UK, noted that Egypt’s agreement with the International Monetary Fund (IMF) for the next loan is on the way – and with it, a devaluation of the Egyptian pound. Inflation in Egypt is slowing down, according to the report but will remain above the central bank’s target level until mid-2025, according to the Arab News Agency. Capital Economics also noted that the talks between Egyptian officials, the US Treasury Department, and the IMF seem “positive”. US Treasury Secretary Janet Yellen pledged to support Egypt’s economy and reforms following a meeting with senior Egyptian financial officials in Washington, DC on Tuesday

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