![Egypt Devalues Currency, Raises Interest Rates to Fulfill Key IMF Aid Requirement – Africa Bitcoin News Egypt Devalues Currency, Raises Interest Rates to Fulfill Key IMF Aid Requirement – Africa Bitcoin News](https://i0.wp.com/static.news.bitcoin.com/wp-content/uploads/2024/03/shutterstock_2289738685.jpg?w=896&ssl=1)
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Authorities in Egypt recently allowed the local currency’s exchange rate versus the U.S. dollar to decrease by more than 60%. Additionally, the central bank raised interest rates by 600 basis points. Both steps were key conditions set by the IMF which Egypt had to meet before the approval of a new financial aid package. IMF […]
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