Dear followers everywhere, welcome to a new analysis of the most important reports presented by the Banker Research Unit throughout the day, Tuesday, November 12.
Banker platforms presented a number of very important reports today, the most important of which was today’s most important event regarding the publication of false news about Egypt’s request from the International Monetary Fund to increase the value of the fourth tranche to $2 billion..
The report pointed out that the news that spread recently about Egypt’s request to increase the value of the fourth tranche of the International Monetary Fund loan to two billion dollars instead of 1.3 billion dollars, turned out to be completely incorrect news. Central Bank Governor Hassan Abdullah confirmed in his capacity as Egypt’s governor to the International Monetary Fund that there is no Is there any truth to what was reported in some media outlets regarding Egypt’s request to increase the next tranche from the International Monetary Fund?
The report indicated that the Media Center of the Council of Ministers also issued an official statement in which it said that Egypt did not request any increase in the fourth tranche… and all the news circulated by some media outlets and the widespread rumors are nothing but attempts to create confusion among citizens.
Banker explained that the reasons are simply that these rumors can create a state of mistrust among people and make them worry about the future of the Egyptian economy. Hence the role of the government is to reveal and clarify the truth to the people, especially in issues that directly affect the economic situation of the country.
The Banker report warned that these rumors are mostly attempts to confuse the progress that Egypt is achieving. Every rumor that emerges and spreads could be part of a media or political pressure campaign whose goal is to make people lose confidence in the Egyptian economy. This could be for the interests of certain parties. Thus, the Media Center of the Council of Ministers always calls on the media and citizens to investigate any news and always rely on reliable sources before they believe anything.
The next report submitted by the Banker Research Unit was about a bold move by the central bank that would change the rules of the game
Banker said that the Central Bank decided to withdraw very large liquidity from banks operating in the market at a high interest rate of 27.75%.
The report explained the reasons for the decision and said that, simply put, the central bank’s primary role is to maintain the stability of the economy. This means that it looks at inflation rates, which in short, is the rise in prices, and controls them so that prices do not rise without oversight. One of these methods is that it raises the interest rate in order to reduce it. Liquidity in the market
The report pointed out that the Central Bank’s withdrawal of liquidity shows the extent of inflation that the country is experiencing and a message that there is economic control that helps stabilize the market. Investors also take the Central Bank’s steps seriously and this enhances their confidence in the economy. Therefore, withdrawing liquidity is important not only because of inflation. But also to preserve the value of the pound in the currency market, because when the amount of the pound decreases in the market, it maintains its value against foreign currencies, and this helps prevent the decline of the currency, which could make us find prices increasing unjustifiably. natural
Banker platforms presented a different report today on the development of Egyptian industries and their leadership in global markets.
The report said that in the latest official statistics, Egypt achieved a very great achievement in the food industry sector and occupied the first nine places in exporting 13 different commodities. This is based on official data from the United Nations World Trade Center, which clearly indicated that Egypt led the export of more than one product.
Banker pointed out that first of all, Egypt has become number 1 in exporting frozen strawberries. Egypt also exports baking powder, and Egypt has also become fourth in the world in exporting dried onions, which is one of the products in great demand, especially in the food and manufacturing industries.
The report indicated that Egypt also ranked fourth in exporting seeds and oil fruits, and this is a sector that serves many industries, whether in food or even in cosmetics and pharmacy.
The last report with us today regarding the 3-year deadline and the new development in the old rent crisis
The report said that the Supreme Constitutional Court issued a historic ruling that some articles in Law No. 136 of 1981, related to renting places and regulating the relationship between the landlord and the tenant, were unconstitutional. Since that ruling, people have been obsessed with it since the owner of the property wants to evict the residents in any way, and the tenant does not want to. He pays more than the percentage stated in the contracts, and there are many problems and confusion that currently exist among people.
Banker explained that the coalition of owners of old properties commented on the decision of the Supreme Constitutional Court and said that the owners have been subjected to injustice and oppression for more than 43 years due to the old rental system and law. He stressed that the rental value must rise to 2000 pounds, and the period to reconcile the situation must reach 3 years.
The Real Estate Owners Coalition also said that a new contract must be written between the landlord and the tenant, with the approval of both parties on the rental system, method, and value of the amount that the tenant will pay monthly in exchange for rent.
