Egypt's central bank increased lending to the government despite declining inflation and IMF pledges.

Egypt's central bank increased lending to the government despite declining inflation rates, raising concerns about economic stability. Central bank lending has grown by 31.1% year-on-year, amid a slowdown in inflation from 38.0% in September to 25.7% in July. This expansion comes despite Egypt's pledge to the International Monetary Fund to reduce central bank lending and cease lending to other government agencies.

August 29, 2024
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