Capital Economics expects 7.5% depreciation of Egyptian Pound after turning to IMF – Egypttoday

Capital Economics expects 7.5% depreciation of Egyptian Pound after turning to IMF – Egypttoday

Capital Economics expects 7.5% depreciation of Egyptian Pound after turning to IMF. CAIRO - 28 April 2020: Capital Economics reiterated its expectation of a 7.5 percent depreciation of the Egyptian pound to reach $17 by end of 2020 after the state announced returning to the International Monetary Fund (IMF).. "Egypt's turning to the International Monetary Fund (IMF) means that the authorities are likely to loosen their grip on the pound sooner rather than later," it added.. Monetary policymaking has improved in recent years and, by keeping real interest rates elevated, the central bank has brought inflation under control.. Earlier in April, Capital Economics expected the Egyptian currency to fall by around 7.5 percent by the end 2020 to 17/$. It clarified the decline will take place as the Egyptian authorities would loosen their grip on the pound over the coming weeks.. Prime Minister Mostafa Madbouli announced Sunday that the Egyptian government and the Central Bank have requested a financial package from the International Monetary Fund (IMF), according to the Rapid Funding Tool program (RFI) and the SBA program.. CAIRO - 26 April 2020: The Egyptian government and the Central Bank have requested a financial package from the International Monetary