Standard Chartered
Strong foreign exchange inflows from portfolio investments and official sectors are bolstering confidence in the Egyptian pound (LE), according to Standard Chartered’s latest report
The revision comes in light of recent comments by the International Monetary Fund’s Managing Director, Kristalina Georgieva, and Egyptian officials over the past week
The 14-year funding will be guaranteed by the Swedish Export Credit Agency, and financed by the Swedish Export Credit Corporation.
Economist at the Bank, Carla Slim clarified that this anticipation comes as inflation is expected to pick-up gradually back towards the CBE’s 9 percent (+/-3 percent) target.
Egypt is on the right track to achieve comprehensive financial and economic reforms, and spending-led growth estimated at 5 percent of GDP.
