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Central Bank of Egypt earmarks $1.44bn for low-cost housing

Reuters – Egypt’s central bank said on Tuesday it would allocate EGP 10bn ($1.44bn) for low-cost housing projects, one of the demands in protests that led to the ouster of autocratic President Hosni Mubarak in 2011. Better living conditions, an end to official corruption and more democratic rights figured prominently in those protests. About half …

Daily News Egypt

CBE leaves key overnight rates on hold

Reuters – Egypt’s central bank kept its official interest rates on hold as expected at a monetary policy committee meeting on Thursday, as the government tries to stimulate the economy while keeping inflation in check. Egypt’s economy has been battered by three years of political instability since a popular uprising ousted autocrat Hosni Mubarak in 2011, causing tourists and …

Daily News Egypt

Egypt’s debt in Focus

Egypt has diversified debt instruments, but still has the same creditors
Interest rate sharply reduced but the government’s options remain limited
The government is ignoring Sukuk and depending on Arabs to meet urgent needs

Daily News Egypt