Egypt receives a loan worth $6 billion from the (IMF)
According to Alarabiya.net article on September 15, Standard Chartered Bank plc predicted that Egypt would receive a $6 billion loan from the International Monetary Fund (IMF) by the end of the month.
The international banking organisation forecast that by the end of 2022, the exchange rate between the US dollar and the Egyptian pound would have increased to EGP 20.75.
In a similar spirit, the bank kept its predictions for the inflation rate, anticipating it to reach a high of 15% in the fourth quarter of 2022 and a record 11.6% in the fiscal year (FY) 2022–2023.
According to data released in August by the Central Agency for Public Mobilization and Statistics (CAPMAS), annual headline inflation in Egypt reached 15.3% in August 2022, up from 6.4%in the same month of 2021.
