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Egypt faces an increasingly tough task raising cash for foreign debt repayments after external borrowing quadrupled over the past eight years to help fund a new capital, build infrastructure, buy weapons and support an overvalued currency.
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A look at the day ahead in U.S. and global markets from Mike Dolan
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Binance founder Changpeng Zhao doesn’t have much to look forward to. On Monday, the U.S. Securities and Exchange Commission sued the world’s largest cryptocurrency exchange, accusing it of, among other things, artificially inflating trading volumes and failing to properly control U.S. accounts. Zhao has defended the exchange – and the cryptocurrency business – vigorously since his biggest competitor Sam Bankman-Fried was charged with fraud late last year. Even if he makes it through this regulatory blowback, crypto trading has moved against him.
Changes to the Brazilian inflation targeting system should not be linked to how monetary policy is carried out, the central bank's director of economic policy said on Monday, amid speculation of an imminent change in inflation goal timelines.
Brazil's central bank chief Roberto Campos Neto said on Monday that long-term inflation expectations, which have long concerned policymakers, would start to decline and pointed to a clearer economic environment.