COMMENTS: The SME bank loans is a growing problem in Egypt. The Egyptian central bank has now addressed it via an initiative to forgive the accrued interest subject the loans’ principals are fully repaid latest by Dec 31, 2018. This is estimated to resolve approx. US$ One Billion of non-preforming loans and return the borrowers to marketplace.
NEGATIVE FOR: No one
POSITIVE FOR: For the Egyptian economy.
IMPACT POTENTIAL: low to Medium
TIME SCOPE: Short Term