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Top related persons:
Egypt Mostafa Madbouly - 1 MARCO LONGARI - 1 Abdel - 1 Fattah - 1 Sisi - 1 Monica Malik - 1 ADCB - 1 Charles Robertson - 1
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Egypt Sandton Johannesburg South Africa Rights CAIRO Brazil Russia India
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Rights - 1 New Development Bank - 1 FIM Partners - 1 United - 1 Capital Economics - 1 Thomson - 1

Search resuls for: "Charles Robertson"


2 mentions found


☆ Egypt hopes BRICS entry will lure foreign cash, but analysts counsel patience
  + stars: | 2023-08-25 | by ( Patrick Werr | ) www.reuters.com   time to read: +3 min
The bloc, which includes Brazil, Russia, India, China and South Africa, on Thursday invited Egypt and five other countries to join, and Egypt immediately welcomed the offer. "The group's aim of reducing dollar transactions will lower the foreign currency pressure in Egypt," the cabinet said in s statement on Thursday. Monica Malik of ADCB said BRICS membership may eventually help Egypt attract more investment. "Egypt has two deep needs - FDI and a cheaper debt burden - and BRICS membership can help with both," Robertson said. The BRICS group on Thursday also invited Saudi Arabia, Iran, Ethiopia, Argentina and the United Arab Emirates to join.
Persons: Egypt Mostafa Madbouly, MARCO LONGARI, Abdel, Fattah, Sisi, Monica Malik, ADCB, Charles Robertson, " Robertson, Robertson, James Swanston, Patrick Werr, Nafisa Eltaher, Sarah El Safty, Giles Elgood Organizations: Rights, New Development Bank, FIM Partners, United, Capital Economics, Thomson Locations: Egypt, Sandton, Johannesburg, South Africa, Rights CAIRO, Brazil, Russia, India, China, Ukraine, Saudi Arabia, Iran, Ethiopia, Argentina, United Arab Emirates, Saudi, UAE
☆ Egypt's pound keeps falling on black market ahead of IMF meeting
  + stars: | 2022-12-09 | by ( Patrick Werr | ) www.reuters.com   time to read: +3 min
Deputy Finance Minister Ahmed Kouchouk said on Wednesday he expected the IMF board to approve the package at the meeting. In a statement issued by the cabinet on Friday, Kouchouk reiterated that the agreement with the IMF aimed to achieve a flexible exchange rate. Dealers on the black market were selling dollars for 32 to 33 pounds compared to the official rate of about 24.6 to the dollar. "However we do not expect a devaluation to the 32-34 handle as now implied by the London listings or the black market." Since early November, the central bank has been allowing the official rate to weaken incrementally by an average of about 0.01 pounds per day.
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