Central Bank of Egypt | Egypt Oil & Gas
Inflation Falls to 11.4% in May
Egypt’s annual headline consumer price inflation (CPI) fell 1.7% in May 2018, Reuters reported. Figures published by the Central Agency for Public Mobilization and Statistics (CAPMAS) show that CPI inflation fell from...
Egypt Devalued The EGP
Egypt has devalued its currency by 48%, a measures that met a key demand by the International Monetary Fund (IMF) in order to secure a $12bn loan. The devaluation pegged the Egyptian pound at 13 to the dollar, up from...
Egypt Secured $6b IMF Funding Requirement
A source from the Central Bank of Egypt (CBE) stated that the country has managed to primarily secure the additional funding required to proceed in the International Monetary Fund (IMF) loan. Efforts exerted by both t...
Central Bank of Egypt Loans EGP 31b to National Banks
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) which will get EGP 5b, Banque Misr with EGP 16b, and Banque du ...
El Molla: IOCs Invested $8.5b in Egypt
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 petro...
President Al Sisi Discussed Economic Reforms ahead of IMF Visit
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 I... Egypt’s United Bank Considers Renewables Investments
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, according to Zawya. El Kady further stated that his bank plans to...
Electricity Ministry Launches Awareness Campaign
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...
