Egypt receives loan of $ 2 billion from international banks

Egypt receives loan of $ 2 billion from international banks

Central bank of Egypt has announced that the country, in search of cash to support a faltering economy, has secured funding of two billion dollars (1.8 billion euros) from a consortium of international banks. Meanwhile, the Finance Ministry issued sovereign bonds, worth four billion, listed on the Irish Stock Exchange. Part of these obligations was […]

Food crisis strangling Egypt’s economy

Food crisis strangling Egypt’s economy

After oil, rice and medicines, sugar has run out in Egypt, as the country has announced a devaluation of 48% of its currency. In Egypt, about 68 million of the total 92 million people receive food subsidized by the State through small consumer stores run by the Ministry of supply and internal trade. After shortages […]