Egypt faces large spread of dollarization: EFG Hermes

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The financial group also referred to the possible need to secure additional sources of foreign exchange

Staff Writer, Arab Finance

May 11, 2023

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Egypt is witnessing a large spread of dollarization in all sectors of the economy, based on the monetary indicators, Asharq Business reported on May 10th, citing a recent report issued by EFG Hermes.

The anticipated asset sales in Egypt will not provide sufficient liquidity to promote the transition to a flexible exchange rate regime, EFG Hermes said.

The financial group also referred to the possible need to secure additional sources of foreign exchange.

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