Pre-Trading Thoughts

The IMF Executive Board has added the third review of Egypt's USD8 billion loan program — set for 29 July — back to its calendar. Egypt paid USD3 billion to the IMF in 1H2024 and intends to pay another USD257 million until the end of July. It is possible there were some malfunctions or increased pressure on the electricity grid due to the continued heatwave, which may have led to power cuts, Electricity Ministry spokesman said, as blackouts continue despite the promise of pause. COMI (FV: EGP...