Pre-Trading Thoughts

The IMF’s executive board has approved a 46-month USD3 billion financial support package for Egypt, saying it will catalyze additional funding of about USD14 billion. The agreement provides for an immediate disbursement of about USD347 million. NUCA approved allocating land plots directly to foreigners on the condition that the land’s value is fully paid in US Dollars. The CBE’s board approved extending the deadline from 31 December 2022 to the end of December 2023 for banks that have not s...