Egypt’s capital market has been noticeably attracting foreign inflows since the floatation of the Egyptian pound in November 2016, which was part of the country’s economic reform programme agreement signed with the IMF under the $12bn extended fund facility. The currency devaluation was followed by 700 basis-point interest rate hikes, taking...
Higher interest rates following the flotation of the Egyptian pound in 2016 made it costly for businesses and individuals to obtain funding from Egyptian banks. The depreciation of the currency also raised input costs for businesses and reduced their ability to expand operations, thereby reducing demand for funding to cover capital expenditure...
The first cryptocurrency transaction in history was feted in just two words: “Running Bitcoin”. This came in the form of a tweet on January 11, 2009 by Hal Finney, a US software developer. Some 10 years and over 1600 initial coin offerings later, the world of crypto-, virtual and other digital currencies looks to have provoked an active...
Egypt’s sizeable informal economy represents a significant challenge for the government. With between 40% and 60% of economic activity taking place out of sight of the Ministry of Finance, the government’s economic reform agenda faces a number of obstacles. Informal employment is generally characterised by low-wage, low-skill activity with...
The largest of its kind in North Africa, Egypt’s banking sector has also long been seen as one of the most stable in the region. Since 2010 the industry has overcome the challenges of political revolution, currency crises and an interest rate environment that has acted as a barrier to credit extension. While Egypt’s macroeconomic outlook at...
In a challenging year for economies across the region, Egypt’s capital market reform continued apace. Short-term measures in response to the economic effects of the Covid-19 pandemic joined a series of reforms aimed at establishing the bourse as a safer and more transparent destination for domestic and international investors. While market...
Stay updated on how some of the world’s most promising markets are being affected by the Covid-19 pandemic, and what actions governments and private businesses are taking to mitigate challenges and ensure their long-term growth story continues.
Register now and also receive a complimentary 2-month licence to the OBG Research Terminal.
Register Here×