NBK Economic Report
KUWAIT: Egypt finally embarked on long-awaited macroeconomic reforms in March, devaluing the currency and raising interest rates sharply. The bold moves came soon after the government managed to secure a major FX buffer via a $35bn mega-investment deal with the UAE over the Ras Al Hekma area. Since then, the string of positive news has continued with the IMF approving an expanded loan of $8bn (from $3bn), the World Bank…
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