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Egypt and the IMF: Are we asking the right questions?

By Iris Boutros The focus of Egypt’s progress to secure the pending $4.8bn loan from the International Monetary Fund (IMF) has been on the size, timing, and conditions of the loan. Many have speculated on the impact of protracted negotiations, the economy, the currency, investment, price inflation and subsidy cuts. These questions are critical, but …

Daily News Egypt

For the seventh time: CBE fixes interest rates on deposits and loans

In its meeting Thursday, the monetary policy committee in the Central Bank of Egypt has decided to fix the interest rates on deposits at 9.25 per cent and on the one night lending at 10.25 per cent for the seventh time since February, in an attempt to maintain the bank’s monetary policy and to control …

Mohamed Salah

China’s inflation slows to 29-month low

Beijing (AFP) — China’s inflation slowed in June to its lowest level in 29 months, official data showed Monday, giving the government more flexibility in its efforts to reboot the world’s second-biggest economy. The country’s consumer price index (CPI) rose by 2.2 percent year-on-year in June, the National Bureau of Statistics said, down from 3.0 …

Daily News Egypt

Egypt urban inflation dips to 9 pct in year to March

By Sherine El Madany / Reuters CAIRO: The urban consumer inflation was 9 percent in the 12 months to March, down from 9.2 percent in February, figures on Egypt’s state statistics agency showed on its website on Tuesday. The urban consumer price index for March was 122.6 versus 112.4 a year earlier, the state statistics …

DNE

Egypt core inflation 7.3 pct in February

By Reuters CAIRO: Egypt’s core consumer price inflation quickened to 7.3 percent in the 12 months to February from 6.86 percent in January, the central bank said on Sunday. Core inflation strips out subsidized goods and volatile items including fruit and vegetables. The state statistics agency CAPMAS said on Saturday that urban consumer price inflation, …

DNE

Egypt inflation eases slightly, economist warns of stagflation

CAIRO: Egypt’s urban consumer inflation reached 8.6 percent in the year to January, down from 9.6 percent in December, as analysts said the numbers are much lower than expected given the country’s current economic woes. According to the Central Agency for Public Mobilization and Statistics, headline CPI rose 0.15 percent month-on-month in January after dropping …

DNE

Central Bank keeps rates steady, warns of inflation

CAIRO: Egypt’s central bank left its benchmark overnight deposit and lending rates unchanged on Thursday, saying economic growth remained feeble yet warning that local supply bottlenecks could cause inflation to speed up. Some economists had expected the central bank to increase rates to dampen accelerating inflation and attract funds to the country’s financial system. Headline …

DNE

Egypt inflation rise deepens challenge for Cabinet

CAIRO: Inflation in Egypt’s faltering economy accelerated in November, putting pressure on the new government to help millions of poor whose living costs were pushed up by supply chain failures even as incomes have been stagnating. Urban consumer prices climbed 9.1 percent in the 12 months to November, up from 7.1 percent in October, the …

DNE

Egypt urban inflation slows to 7.1 pct in October

CAIRO: Egypt’s urban consumer inflation slowed to 7.1 percent on an annual basis last month from 8.2 percent in September, Egypt’s state statistics agency said on Thursday. The urban consumer price index for October was 119.2 versus 111.3 a year earlier, the agency CAPMAS said. Meanwhile, core consumer price inflation declined to an annual 7.6 …

DNE

Egypt’s core inflation rises to 7.95 pct in Sept

CAIRO: Egypt’s headline inflation eased last month as slowing food price growth offset a faster increase in housing costs, government figures showed on Monday, and economists forecast the central bank will hold key lending rates steady this week. Urban consumer price inflation, the most closely watched indicator of prices, eased to 8.2 percent in the …

DNE