Central Bank of Egypt

  • Oil Sector Doubles Net FDI during July/March FY 2017/18

    Oil Sector Doubles Net FDI during July/March FY 2017/18

    Monday, 2nd July 2018

    More than half of Egypt’s net foreign direct investment (FDI) during the first nine months of FY 2017/18 was invested in the oil sector.

  • Inflation Falls to 11.4% in May

    Inflation Falls to 11.4% in May

    Sunday, 10th June 2018

    Egypt’s annual headline consumer price inflation (CPI) fell 1.7% in May 2018.

  • Egypt Devalued The EGP

    Egypt Devalued The EGP

    Thursday, 3rd November 2016
    Egypt has devalued its currency by 48%. The devaluation pegged the Egyptian pound at 13 to the dollar, up from nearly nine on the official market
  • Egypt Secured $6b IMF Funding Requirement

    Egypt Secured $6b IMF Funding Requirement

    Thursday, 8th September 2016
    Egypt has managed to primarily secure the additional funding required to proceed in the International Monetary Fund (IMF) loan. Efforts exerted by both the CBE and Egyptian government resulted into securing the requested financing package of $6b.
  • Central Bank of Egypt Loans EGP 31b to National Banks

    Central Bank of Egypt Loans EGP 31b to National Banks

    Thursday, 25th August 2016
    The Central Bank of Egypt (CBE) has provided a EGP 31b interest-free loan over 10 years to three major banks, including the National Bank of Egypt (NBE) getting EGP 5b, Banque Misr with EGP 16b, and Banque du Caire with EGP 10b.
  • El Molla: IOCs Invested $8.5b in Egypt

    El Molla: IOCs Invested $8.5b in Egypt

    Monday, 8th August 2016
    The Egyptian Minister of Petroleum, Tarek El Molla discussed Egypt's dues to international oil companies (IOCs), foreign investments in the country's energy industry, and regional partnerships in the petroleum sector in an interview with Daily News Egypt.
  • President Al Sisi Discussed Economic Reforms ahead of IMF Visit

    President Al Sisi Discussed Economic Reforms ahead of IMF Visit

    Sunday, 31st July 2016
    Egypt's President Abdel Fattah Al Sisi held a meeting with Prime Minister, Sherif Ismail, and members of the Economic Ministerial Committee to discuss economic developments, including the pending loan from the International Monetary Fund (IMF), ahead of the global financial institution's visit to Cairo.
  • Egypt’s United Bank Considers Renewables Investments

    Egypt’s United Bank Considers Renewables Investments

    Wednesday, 27th July 2016
    Egypt’s state-run United Bank is studying plans to contribute with $112.6m to upcoming syndicated loans, announced the bank’s Chairman, Ashraf El Kady.
  • Electricity Ministry Launches Awareness Campaign

    Electricity Ministry Launches Awareness Campaign

    Sunday, 12th June 2016
    The Egyptian Ministry of Electricity is to launch a public awareness campaign that encourages the citizens to become more conscious towards their energy consumption in order to help solve the recent energy crisis that the country is facing.
  • CBE: Banking Sector Fed In $33.7b to Cover State Needs

    CBE: Banking Sector Fed In $33.7b to Cover State Needs

    Sunday, 12th June 2016
    The Egyptian banking sector has provided approximately $33.7b to cover the needs of the state and importers requests for foreign exchange between November 2015 and end of April 2016. CBE also aims at providing foreign currency to import fuel and gas supplies.