Arab Finance: Credit Suisse has deepened its negative outlook for the Egyptian economy amid the unrealized reforms agreed upon with the International Monetary Fund (IMF), especially in terms of the initial public offering (IPO) program and applying a flexible foreign exchange rate, Asharq Business reported on May 31^st, citing a report by the Swiss bank.

As for the exchange rate, the bank predicts the Egyptian pound to be traded at EGP 45 per $1 as in the parallel market.

It is worth noting that the bank maintained its neutral outlook for Egypt in December 2022 before downgrading it to negative in February.

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