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Few of its grand projects are generating additional hard currency inflows, while foreign investors have added to its woes by snubbing Egypt and other emerging markets since the start of the Ukraine war and as global borrowing costs have climbed
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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.
CAIRO (Reuters) - 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. | 02:06am
The median forecast of 13 analysts polled showed annual urban consumer inflation climbing to 31.4% in May from 30.6% in April
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Non-oil private sector activity in Egypt contracted for the 30th straight month in May, weighed down by continued high inflation and weak demand, a survey showed on Monday.