Tarek El-Tablawy

Egyptian inflation unexpectedly accelerated in February, a trend that may continue after a much-anticipated flotation of the pound aimed at turning around the troubled economy.

The European Union pledged a €7.4 billion ($8.1 billion) aid package for Egypt, the latest push by the international community to buoy the struggling economy of a North African nation seen as vital to regional stability.

Egyptian inflation slowed in March despite a dramatic currency flotation aimed at turning around the battered economy that some analysts saw as likely to fuel another surge in costs.

Egyptian President Abdel-Fattah El-Sisi was sworn in for a third term as expectations build for wide-ranging changes after a $50 billion international bailout warded off the country’s worst economic crisis in decades.

Egypt named an investor-friendly ex-World Bank economist as finance minister alongside business executives and former bankers to other key portfolios, as the nation seeks to move on from the worst economic crisis in decades.

Egypt is set to name Ahmed Kouchouk as its first new finance minister since 2018, Extranews reported, as the North African nation pledges an economic revamp after emerging from its worst crisis in decades.

Egypt has allocated $1.18 billion for extra energy imports, seeking to eliminate scheduled power cuts before the end of July and tackle an issue that’s causing misery for millions as temperatures soar.

Egyptian inflation decelerated to the slowest pace in a year and a half, even after a steep currency devaluation and a historic move to raise the cost of subsidized bread.

Egyptian President Abdel-Fattah El-Sisi ordered Prime Minister Mostafa Madbouly to form a new government, as the North African nation pushes ahead with wide-ranging economic reforms after securing more than $50 billion in aid and investments.