Egypt, EU hold an investment conference to help battle inflation, currency crisis

The March aid package includes both grants and loans over the next three years for the Arab world’s most populous country. Most of the funds — 5 billion euros — are macro-financial assistance to help Egypt shore up its economy, which is hit by a staggering shortage of foreign currency and soaring inflation.

Other investment deals worth 40 billion euros are scheduled to be signed with European companies as well as bilateral cooperation agreements with the EU to advance employment and skills, vaccines manufacturing, food security and sustainable development, it said. Most recently, the government once again floated the pound and sharply increased the main interest rate in March. Commercial banks are now trading the U.S. currency at more than 47 pounds, up from about 31 pounds.

Switzerland Neuesten Nachrichten, Switzerland Schlagzeilen

Similar News:Sie können auch ähnliche Nachrichten wie diese lesen, die wir aus anderen Nachrichtenquellen gesammelt haben.

European stocks slump after European vote, shock French electionEuropean stocks slump after European vote, shock French election
Herkunft: Investingcom - 🏆 450. / 53 Weiterlesen »

European stocks lose steam after European Central Bank cutEuropean stocks moved lower on Friday, after closing at a record high during the previous session.
Herkunft: NBCNewYork - 🏆 270. / 63 Weiterlesen »

European stocks open marginally higher after European Central Bank cutEuropean stocks opened slightly higher on Friday, after closing at a record high during the previous session.
Herkunft: CNBC - 🏆 12. / 72 Weiterlesen »

European stocks set for muted open after European Central Bank cutEuropean stocks looked set to open relatively flat on Friday, after closing at a record high during the previous session.
Herkunft: NBCNewYork - 🏆 270. / 63 Weiterlesen »