Tag: The Central Bank of Egypt

Egypt: Unable to Repatriate Returns, KLM Suspends Flights to Cairo

Peter Mulvany

The Netherlands flagship airline KLM Wednesday announced it is suspending flights to the Egyptian capital Cairo as it faces difficulties to repatriate gains because of the currency policy imposed by Egyptian authorities. The decision comes after months of challenges to Read more

Egypt: Fitch Welcomes Pound Devaluation, Warns of Inflation Risk

Jaber Ali

The Central Bank of Egypt’s decision to devaluate the Egyptian pound by 14.4% against the US dollar was welcomed by credit rating agency, Fitch, as “credit positive” but added that “insecurity” and “political uncertainty” call for more measures as foreign Read more