Sovereign Analysis /
EgyptEgypt: Devaluation inevitable amid sluggish reform
CBE’s decision to hold rates affirms market sentiment that EGP devaluation is not imminent as govt waits for FDI inflows
But FX deval necessary to attract investment and revive IMF programme – failure to do so means BOP crisis is inevitable
Meeting external funding needs over longer term will require sustained commitment to reforms w/ little margin for error
Patrick Curran
Senior Economist @ Tellimer Research
Hasnain Malik
Strategy & Head of Equity Research @ Tellimer Research
22 May 2023
Published byTellimer Research
