Pre-Trading Thoughts

Egypt intends to pay USD240 million to the IMF next September, to pay off a tranche of the USD5 billion credit agreement it concluded in 2020. Egypt was among the six countries invited to join the Brics starting January 2024, along with Saudi Arabia, UAE, Argentina, Iran, and Ethiopia. Ahmed Abdelrahman El Sheikh has been named Head of EGX for a one-year term starting 26 August. The Financial Regulatory Authority (FRA) has completed procedures to establish the first Egyptian Securities ...