Egyptian pound falls to all-time low as a result of economic difficulties
An $8 billion loan to Egypt has been approved by the International Monetary Fund. As per the country's premier, the agreement will aid in reestablishing economic equilibrium. The news was made as the value of the Egyptian pound fell to an all-time low compared to the US dollar. Interest rates have increased by 600 basis points by Egypt's central bank. One of the main requests of the IMF for Egypt was devaluation.
Please login to add comment.