epa10415782 High-rising towers on the
Nile River in Cairo, Egypt, 19 January 2023. Egypt's Central
Agency for Public Mobilization and Statistics (CAPMAS) said on
10 January that the country's annual urban consumer inflation
rate recorded 21.3 percent in December year-on-year, increasing
from 18.7 percent in November. Egypt allowed further devaluation
of the currency since the beginning of 2023 where the Egyptian
Pound dropped by over 10 percent against the US dollar, just
after the International Monetary Fund (IMF) in December approved
a funding arrangement and released the first 347 million US
dollars of a three billion USD loan. EPA/KHALED ELFIQI
KHALED ELFIQI/
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