Al-Sisi reviews inflation, record reserves with CBE governor

Egyptian President Abdel Fattah Al-Sisi met with Central Bank of Egypt (CBE) Governor Hassan Abdalla to review inflation trends, foreign currency reserves, and overall economic performance amid ongoing regional geopolitical tensions. According to a presidential statement, the meeting assessed Egypt’s economic reform programme and the impact of regional conflicts on inflation, external balances, and capital flows. Inflation had eased from a peak of 38% to around 11% before the latest crisis, while net international reserves reached a record $53bn in April 2026. The reserves are sufficient to cover approximately 6.3 months of imports and represent about 158% of Egypt’s short-term external debt, underscoring the country’s strengthened external position. Governor Abdalla reaffirmed the central bank’s commitment to maintaining a flexible exchange rate policy to absorb external shocks and preserve stability. He also reviewed preparations for Egypt’s hosting of the 33rd annual meetings of the African Export-Import Bank (Afreximbank) in El Alamein this June, an event held under presidential patronage. Abdalla noted that hosting Afreximbank reflects Egypt’s commitment to advancing African economic integration, expanding trade, and promoting sustainable development. President Al-Sisi instructed officials to accelerate efforts toward fiscal sustainability, strengthen financial discipline, and improve debt management to free up resources for public services and human development. He also emphasized the importance of continuing to build reserves and contain inflation.The post Al-Sisi reviews inflation, record reserves with CBE governor first appeared on Dailynewsegypt.