Egypt Rate Hike to Curb Growth
Egypt Rate Hike to Curb Growth

Egypt Rate Hike to Curb Growth

Egypt Rate Hike to Curb Growth

Egypt’s financial community says Sunday’s 2% interest rate hike, in line with calls from the International Monetary Fund, will do little to curb rampant inflation and will harm investment at a time when the country needs it most, Reuters reported. The central bank’s first hike since a 3% rate rise in November is aimed at dealing with inflation—now above 30%—as well as demand-side pressures, after the IMF said action on those two factors was vital to keeping Egypt’s economic reform program on track. The business community blames IMF pressure for what it says is a wrong decision.


Short URL : https://goo.gl/W3kni8
  1. https://goo.gl/e9pYKj
  • https://goo.gl/RqLpql
  • https://goo.gl/1HkVa9
  • https://goo.gl/LsbMxw
  • https://goo.gl/x1Bbve

You can also read ...

ADB Forecasts India Growth at 7.3 Percent
The Asian Development Bank expects India’s growth to pick up...
Dow futures dropped more than 100 points in early trading, as traders returned from the long holiday  weekend to face fresh selling pressure for US stocks.
A six-day rebound in world stocks began to splutter on Tuesday...
Ghana Told to Cut High Agro Imports
The World Bank country director for Ghana, Henry Kerali, has...
Chinese ironworks are increasingly  using Australian ore, which has  a high iron content.
Global stock markets are down from their recent peaks and...
London-based Capital Economics expects the German economy to expand by 2.7% this year. This would be above the government’s  more conservative forecast of 2.4%.
The German economy is expected to improve in the next six...
Indonesia Criticizes Trump’s Protectionist Policies
Indonesia is foregoing billions of dollars on offer from...
File picture of truckers in Buenos Aires during a demonstration last summer against the policies of Mauricio Macri.
The Argentine economy grew “close to 2.8%” last year, Guido...
Goldman Raises Red Flag Over US Gov’t Spending
US fiscal policy is headed for “uncharted territory.” That’s...

Add new comment

Read our comment policy before posting your viewpoints