Further growth in foreign assets is expected in March after the International Monetary Fund approved a $1.2 billion disbursement to Egypt, following the fourth review of its $8 billion economic ...

Minister El-Shimy outlined the ministry’s comprehensive strategy for reforming its affiliated companies, aimed at enhancing performance and ensuring long-term sustainability ...

Among the landmark deals, the People's Bank of China (PBOC) and the Central Bank of Egypt signed a memorandum of understanding to deepen financial cooperation, which covers local-currency settlement, ...

The deficit in Egypt's foreign assets deficit declined by nearly 3 percent - EGP 24.92 billion ($807.95 million) - on a monthly basis in July, as assets rose at a pace faster than the growth in ...

The Central Bank of Egypt (CBE) reported that the net foreign assets of the Egyptian banking sector recorded a surplus of $5.224bn (EGP 265.898bn) in ...

China is a key partner in Egypt’s economic future,’ says Egyptian president as Chinese premier expresses readiness to expand ...

China and Egypt signed a memorandum of understanding (MoU) on Thursday to enhance bilateral financial collaboration, ...

After a bailout pulls Egypt back from the brink, new foreign investment and robust local banks sector suggest a return to growth. Last fall, as conflict erupted in Gaza, Egypt’s economy, already ...

Hassan El-Khatib, Minister of Investment and Foreign Trade, announced that the Egyptian government plans to double the assets and investments managed by The Sovereign Fund of Egypt (TSFE) to better ...

Even so, drawing foreign currency from local banks is proving difficult as the net foreign-asset position dropped to a record negative USD 24.4bn at end-June 2023 (Figure 2).