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Egyptโs expanded currency swap with China may help bring the yuan into wider use in trade and investment, but experts say any reduced reliance on the US dollar will not happen in a hurry. Chinese President Xi Jinping and his Egyptian counterpart Abdel-Fattah el-Sisi this week backed greater use of their currencies, while linking closer financial ties to plans for new factories, energy projects and digital infrastructure. A joint statement released on Wednesday during Xiโs state visit to Cairo...
Egypt economy in September 2026 shows 14.9% July inflation, a pound near 50.95 to the dollar after a March low of 52.34, and Suez revenue still below 2023 levels. The post Egypt Economy Awaits Next IMF Review as Pound Steadies Near 50.95 appeared first on The Rio Times.
Cairo and Beijing agreed a third phase of their Suez industrial zone and a larger currency swap, turning a decade of promises into a named list of plants and technologies. The post Egypt and China Expand the Suez Zone and Widen Their Currency Swap appeared first on The Rio Times.
On Wednesday, Xi Jinping and his Egyptian counterpart, president Abdel Fatah el-Sissi, oversaw the signing of a series of deals, including on technology, economic co operation and the digital economy.