
The EGP has already fallen nearly 22% since March,
when the central bank devalued the currency in response to rising external pressures fueled by the war in Ukraine.
when the central bank devalued the currency in response to rising external pressures fueled by the war in Ukraine.
Why are expectations getting stronger about a second wave of depreciation ?
A. Growing Financing Gap:
B. Rising Debts:
c. foreign outflows:
D. New IMF Loan:
Egypt is currently seeking a new loan from the IMF that could be inder the extended fund facility (EFF) for 4 years. According to moody’s latest report, this could lead to a gradual devaluation of the EGP.