Inflation ( CCPI)54.2% (Jan 2023)
GDP-11.8% (3Q 2022)
Unemployment5.0% (3Q 2022)
3M T-Bill Rate29.91%
12M T-Bill Rate27.72%
5Y T-Bond Rate29.00%
10Y T-Bond Rate30%
USD/LKR360/363
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Reserves $1.89Bn (Dec 2022)
Cum. Trade Deficit $5.2Bn (Dec 2022)
Cum. Fiscal DeficitLKR 1,647Bn (Oct 2022)

Egypt hike interest rates and devalue the currency after reaching SLA with IMF

InternationalOct 31, 2022
Egypt hike interest rates and devalue the currency after reaching SLA with IMF
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Egypt's move to raise interest rates is a step in the right direction and a flexible exchange rate will help protect its economy, IMF stated after reaching the SLA with Egypt. The Egyptian pound already devalued by 24% before adopting flexible FX.

Egypt has been struggling to cope with the impact of the war in Ukraine, which led to rapid outflows of portfolio investments, a hike in the commodity import bill, and a drop in tourism revenues.

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