Pre-Trading Thoughts

Egypt's foreign debt climbed by USD3.5 billion in the three months ending December 2023 to reach USD168 billion. Monthly headline urban CPI inflation recorded 1.1% in April 2024 compared to 1.7% in the same month of the previous year and to 1.0% in March 2024. Accordingly, the annual headline inflation rate recorded 32.5% in April 2024, compared to 33.3% in March 2024. CBE data revealed a decline in the UAE’s debt to Egypt during 4Q23 to USD21 billion, compared to USD22.2 billion in Sep...