Egitto 6.875% 30.04.2040 ISIN XS0505478684

UPDATE 1-Blinken discusses Mideast tensions with Egypt's Sisi on first leg of tour
Oggi 10:35 - RSF
(Adds meeting with activists, details)
CAIRO, Jan 30 (Reuters) - U.S. Secretary of State Antony Blinken discussed efforts to de-escalate tensions between Israel and the Palestinians in talks with Egyptian President Abdel Fattah al-Sisi on Monday during a three-day visit to the Middle East.

After arriving in Egypt on Sunday, Blinken said he wanted to strengthen Washington's "strategic partnership" with Egypt, a major recipient of U.S. military aid that has helped mediate in the Israeli-Palestinian conflict.

Blinken meets Egyptian Foreign Minister Sameh Shoukry and heads later on Monday to Jerusalem, where he will hold talks with Israeli Prime Minister Benjamin Netanyahu amid concern at home and abroad over the policies of Netanyahu's new right-wing government.

Blinken will then travel to Ramallah to meet Palestinian Authority President Mahmoud Abbas.

The meeting with Sisi also addressed regional issues including attempts to relaunch a political transition in Sudan and to break the deadlock between rival factions in Libya, according to a statement from U.S. State Department spokesman Ned Price.
After arriving in Cairo on Sunday, Blinken met four activists to discuss the human rights situation in Egypt, said Hossam Bahgat, one of those who took part in the meeting.


Under Sisi, who as army chief led the 2013 ouster of Egypt's first democratically elected president, there has been a long crackdown on political dissent that has swept up liberal critics as well as Islamists.


Rights groups say tens of thousands have been detained.

U.S. President Joe Biden's administration has withheld some military aid, citing a failure to meet human rights conditions, though advocacy groups have pushed for more to be held back.


In recent months, Egypt has released some prominent political prisoners amid steps to address international criticism, though many others remain behind bars.


"He was already well aware of the magnitude of Egypt's human rights crisis and that many more new political prisoners are detained than those the regime claims to be pardoning," Bahgat told Reuters after meeting Blinken.

"I think the Biden administration now accepts that two years of engaging Sisi on human rights have not led to much improvement."

U.S. officials did not immediately comment on the meeting with activists.


Sisi has argued that security measures over the past decade were needed to stabilise Egypt and that authorities are protecting rights, including by working to provide basic needs such as housing and jobs.



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(Reporting by Simon Lewis and Aidan Lewis; Editing by Toby Chopra and Nick Macfie)
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POLL-Egypt central bank forecast to raise interest rates by 150 bps
30/01/2023 16:31 - RSF

*
reuters://realtime/verb=Open/url=cpurl://apps.cp./Apps/cb-polls?RIC=EGINTR%3DECI




CAIRO, Jan 30 (Reuters) - The Central Bank of Egypt (CBE) is expected to hike its overnight interest rates by 150 basis points on Thursday as it keeps battling inflation after a series of currency devaluations, a Reuters poll showed on Monday.

The median forecast in a poll of 13 analysts is for the bank to increase its deposit rate to 17.75% and its lending rate to 18.75% at its regular monetary policy committee (MPC) meeting.

The central bank raised rates by a larger-than-expected 300 bps at its last meeting on Dec. 22 and by 200 bps at a surprise meeting on Oct. 27, when it also announced a staff-level agreement with the International Monetary Fund for a $3 billion financial rescue package.

Egypt requested the package soon after Russia invaded Ukraine a year ago, triggering a crisis in Egypt that bit into its tourism sector, raised the bill for commodity imports and led foreign investors to pull more than $20 billion out of the local treasuries market.

"We expect the CBE to hike policy rates this Thursday by at least 100 bps, said Noaman Khaled, an economist with NBK. "We see it as important for the CBE to act before the inflation print comes out next week which we anticipate at around 23-24%."
Annual inflation jumped to a five-year high of 21.3% in December from 18.7% in November.

Likewise, Egypt has allowed its currency to depreciate by nearly 50% over the last year, with the official rate of the pound now at 30 to the dollar.

Despite the high inflation, some analysts believe the central bank will leave interest rates on hold.

"We expect the MPC to keep the policy rates unchanged to allow the market to absorb the 300 bps hike of the 22 December 2022 meeting," HC Securities said.

Foreign investors this month had begun returning to the Egyptian treasuries market, it added, lessening the urgency of raising interest rates to attract them.

(Reporting by Patrick Werr; Editing by Hugh Lawson)
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il disavanzo delle partite correnti dell'Egitto è diminuito del 20,2% su base annua (anno su anno) nel primo trimestre (primo trimestre) dell'anno fiscale in corso (FY) 2022/2023 a 3,2 miliardi di dollari dai 4 miliardi di dollari dello stesso trimestre dell'esercizio precedente, secondo una dichiarazione della Banca Centrale d'Egitto (CBE) del 2 febbraio

www.cbe.org.eg

Central Bank of Egypt

Central Bank of Egypt
www.cbe.org.eg www.cbe.org.eg
 
UPDATE 1-Egypt's current account deficit shrinks 20.2% in July-Sept
Oggi 12:18 - RSF
(Adds details)
CAIRO, Feb 2 (Reuters) - Egypt's current account deficit narrowed by 20.2% to $3.2 billion in the July to September quarter as imports shrank, exports rose and tourism revenue shot up, the central bank said in a statement on Thursday.

Exports rose by 12.6% to $9.97 billion while imports fell by 4.1% to $19.07 billion. Receipts from tourism jumped by 43.5% to $4.07 billion. Revenue from the Suez Canal rose 19.1% to $2.01 billion, the central bank said.

However, remittances from workers outside Egypt, one of the country's main sources of foreign currency, shrank by 20.9% in the July-September quarter to $6.4 billion. A currency crisis prompted many workers to send remittances through the black market instead of the banking system, economists say.


In March, the central bank allowed Egypt's currency to weaken sharply after Russia's invasion of Ukraine prompted portfolio investors to withdraw about $20 billion within weeks from the Egyptian treasury market.


Foreign portfolio investors continued pulling money out of Egypt in the July-September quarter. They repatriating $2.2 billion during the quarter after having invested a positive $3.6 billion a year earlier.


Non-oil foreign direct investment surged by 63.6% to $3.5 billion, mainly due to the sale of $1 billion in local assets to foreigners, the central bank said.


(Reporting by Nadine Awadalla and Enas Alashray; Writing by Patrick Werr; Editing by Alison Williams, Alexandra Hudson)
 
Egypt's Suez Canal revenue $802 mln in January -statement
Oggi 12:42 - RSF
CAIRO, Feb 2 (Reuters) - Egypt's Suez Canal revenue reached $802 million in January, the Canal authority said in a statement on Thursday.

State media had reported a lower figure of $717 million on Wendesday. (news)

(Reporting by Yousri Mohamed; writing by Enas Alashray; editing by Jason Neely)
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www.bloomberg.com Pound’s Plummet Sends Egyptian Private Sector Into Sharp Decline

ByMirette Magdy+Follow

2-3 minutes


Conditions in Egypt’s non-oil economy deteriorated sharply in January as a steep devaluation of the pound heaped more price pressures on businesses, prompting them to trim activity, buying and jobs.
The Purchasing Managers’ Index compiled by S&P Global, which measures the performance of the private sector, fell to 45.5 from 47.2 in December, remaining below the 50 mark that separates growth from contraction for a 26th month. The decline was one of the sharpest in that series.
Output prices rose at their quickest pace in about six years, while purchase-cost inflation reached a four-and-a-half-year high. Some companies said import restrictions caused further supply shortfalls, hindering activity and contributing to a sustained rise in work backlogs, according to the report.
Egypt Private Sector Activity Hit by Inflation, Devaluation

Amid steep drops in new orders and business activity, “firms made further cuts to purchasing and employment,” said David Owen, senior economist at S&P Global Market Intelligence. Input-buying was “again constrained by import controls and an ongoing shortage of US dollars.”

The pound, which has lost almost half of its value against the US dollar since March 2022, plunged roughly 18% last month alone in the latest sign that Egyptian authorities are allowing greater exchange-rate flexibility. A pledge to do so helped the North African country secure a $3 billion International Monetary Fund deal to shore up an economy tipped into crisis by Russia’s invasion of Ukraine.
Headline annual inflation hit 21.3% in December, with consumer prices expected to “remain elevated throughout much of the year,” Owen said. Figures for January are due later this week.
Business sentiment fell to its third-lowest level since the series began in April 2012, with inflation seen hindering demand in the months ahead, S&P said. Employment fell for the third time in four months, although firms took steps to increase wages amid higher living costs.
“The dollar shortage added significantly to Egypt’s economic challenges in 2022 and will likely remain a major problem this year,” Owen said.

— With assistance by Tarek El-Tablawy
 
Egypt's net foreign reserves rise to $34.224 bln in January from $34.003 bln in December
05/02/2023 14:06 - RSF
CAIRO, Feb 5 (Reuters) - Egypt's net foreign reserves rise to $34.224 bln in January from $34.003 bln in December, the central bank reported on Sunday.

(Reporting By Ahmed Tolba;Editing by Elaine Hardcastle)
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Egypt sells $1.06 bln in 1-year dollar T-bills at an average yield of 4.9% - c.bank
06/02/2023 17:00 - RSF
CAIRO, Feb 6 (Reuters) - Egypt sold $1.06 billion in one-year dollar T-bills in an auction at an average yield of 4.9%, the central bank said on Monday.

(Reporting by Nayera Abdallah; Writing by Adam Makary; Editing by Alex Richardson)
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