IMF officials have been in Egypt this week to discuss a new financing package and, while no news has emerged yet, the accelerating depreciation of the pound on the parallel market underscores Egypt’s growing need to seal the deal. There’s a chance that all will be revealed around the time of next Thursday’s Central Bank of Egypt policy meeting. Elsewhere, escalating tensions in the Red Sea have seen Maersk suspend calls to Jeddah and Salalah ports. While oil exports from Saudi and Oman should be unscathed, goods imports could be disrupted and this could create fresh inflationary pressures.
Become a client to read more
This is premium content that requires an active Capital Economics subscription to view.
Already have an account?
You may already have access to this premium content as part of a paid subscription.
Sign in to read the content in full or get details of how you can access it
Register for free
Sign up for a free account to:
- Unlock additional content
- Register for Capital Economics events
- Receive email updates and economist-curated newsletters
- Request a free trial of our services