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Central banks of Egypt, UAE ink bilateral currency swap Agreement

The Central bank of Egypt (CBE) and that of the United Arab Emirates (CBUAE) signed Thursday September 28 a Bilateral Currency Swap Agreement between the UAE Dirham (AED) and the Egyptian Pound (EGP). CBE Governor Hassan Abdullah and his UAE counterpart Khaled Mohamed Balama penned the deal that allows the exchange of local currencies between […]

Algerian President manipulates and inflates economic indicators

Soon after announcing the retrieval of 20 billion dollars, President Tebboune drew mockery when he said that another 36 billion dollar amount was confiscated from a family that concealed it somewhere in vast Algeria. That brings the total sum of allegedly seized money to $56 billion, a sum that is about 35% of Algeria’s GDP […]

Libya : UN to send Special Forces

United Nations has reacted to the violence in Libya by planning to send a special force to protect its personnel as violence increases in Benghazi.  The activities of the militias are threatening the state. Prime Minister Zeidan has declared that if the violence and siege of oil ports continue, the government won’t be able to […]