FX reserves hit a new high, clearing IMF’s USD 55 bn target

Good morning, friends. all 11 analysts we polled see a hold

The CBE isn’t only in the rate-setting chair this morning.

The IMF, meanwhile, has a split verdict for us.

Lastly, from the M&A desk:

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The Central Bank of Egypt’s Monetary Policy Committee meets today we polled

IMF reserve target, check

Egypt’s net in ternational reserves rose USD 1.94 bn in June to a new record of USD 55.07 bn Central Bank of Egypt (CBE) data

Foreign currency assets climbed USD 3.93 bn to USD 37.85 bn.

REMEMBER- reserve buffer of USD 55-56 bn recently told

The EU money is a question mark over the June figure. receive EUR 1.5 bn (USD 1.72 bn) issued USD 500 mn (JPY 80 bn)

Read the record with some care:

What holds the record up is the harder question.

The IMF trimmed its forecast for Egypt’s economic growth in the current fiscal year by 0.4 percentage points to 4.4% World Economic Outlook update (pdf)

The Fund’s outlook still trails the government’s own ambitions. said in April

Data hungry, power heavy

Incom Group plans to build a USD 300 mn data center in Borg El Arab, Alexandria

Why it matters: committed USD 400 mn

Want to know more? Hardhat

It’s several degrees cooler in Alexandria

And over the weekend

The big story abroad

The re vived flare-up between the US and Iran has escalated. said declaration

In response to threats by Trump deliver an “immediate response

In other geopolitical news from the region blocked

Federal Reserve officials are increasingly concerned about inflation minutes