Egyptian banking official told Youm7 Egypt is scheduled to pay U.S. $700 million to the state of Paris Club next January, adding Egypt pays an installment of its debts every six months.
He added Egypt paid July's installment from its foreign (...)
Egypt's Central Bank will sell treasury bonds valued at 5.5 billion EGP (U.S. $918.2 million) Thursday. The value of first release of bonds will be 2 billion EGP (U.S. $333.9 million), while the second will be 3.5 EGP (U.S. $584.3 million), sources (...)
Egypt's foreign currency reserves could be gone in six months, posing a large risk to the Egyptian economy, an Egyptian banking official told Youm7.
He said that a drop would lead to an increase in inflation, depreciation of the Egyptian pound, (...)
Egyptian economic experts today openly acknowledged that the political unrest in Egypt since the January 25 Revolution is the main reason for the considerable decline in direct foreign investment – a loss estimated to be U.S. $163 million.
The (...)
