Latest in Tag: US dollar shortage Highlight
Latest in Tag: US dollar shortage
US dollar shortage negatively affects banks financing import operations, lending to projects with a foreign component
The US dollar shortage has negatively affected banks’ activities that are related to financing imports and lending to projects that include a foreign component, according to Amr Tantawy, managing director of Misr Iran Development Bank (MIDB) and board member of the Federation of Egyptian Banks’ (FEB) board of directors. Tantawy told Daily News Egypt that banks’ activities are divided between local and foreign trading …
US dollar shortage restricts activities of credit leasing companies
Import companies have suspended operations amid difficulty opening letters of credit, says CEO of A.T. Lease
EIPICO postpones development plans due to US dollar shortage
The delayed development plans include recently announced new activities due to directing the dollar’s resources to the import of raw materials, says head of financial division
US dollar shortage threatens NCMP EGP 1.2bn expansion plan
The National Company for Maize Products (NCMP) is considering temporarily suspending its expansion plans worth EGP 1.2bn due to lower production volumes of the company. The lowering production rate is driven by recession in global markets as well as the ongoing US dollar price hikes in the Egyptian market. A senior source at NCMP, who …
Dollar shortage created an inflationary recession in the local market: investors
Manufacturers rely on the informal market for US dollars, and securing 25% of industrial sector needs would stabilise US dollar exchange rates
