Pre-Trading Thoughts

Prime Minister Moustafa Madbouly’s new government will take their oath before President El Sisi on Tuesday. The IMF has reached a staff-level agreement with Egypt on the third review of its expanded USD8 billion loan program, which is set to unlock USD820 million after the Fund’s executive board gives the go-ahead in the coming weeks. Ain Sokhna will receive the floating LNG regasification unit that the government will lease from Norway’s Höegh LNG in mid-June as it gears up to welcome LNG sh...