Arab Finance: Standard Chartered Bank is still expecting a fourth devaluation, possibly the last, of the Egyptian pound, Asharq Business reported on September 4th, citing Carla Slim, MENA Economist at Standard Chartered. 

The anticipated devaluation would not occur before securing a sufficient net foreign reserve, Slim noted.

It was reported that Egypt's net foreign reserves increased slightly in July to $34.88 billion from $34.81 billion in June. 

Meanwhile, Deutsche Bank’s Hans-Christian Wietoska and Anthony Wong said that the issuance of pound bonds by the International Finance Corporation (IFC) will expand the investor base, and may help alleviate some of the dollar shortage in Egypt. 

They also expect that the issuance will not exceed $250 to $500 million during the next six months.

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