HSBC remains “fundamentally optimistic on Egypt’s near-term outlook”: We like Simon Williams even when he’s not singing the economy’s praises, so it’s particularly gratifying to see HSBC’s chief economist for Central and Eastern Europe, the Middle East and Africa (also known as “the world’s coolest geography”) sounding bullish on our prospects. “The gains delivered by the IMF-anchored reform process that began in late 2016 are impressive and have momentum, and will, in our view, see the domestic and external imbalances that had become so damaging to economic function continue to narrow over the remainder of this year and into 2019,” he said after a recent visit to Cairo, according to an HSBC press release. “We are optimistic that as inflation falls and confidence in the new, more stable economic environment gains, growth will trend upward boosted by an increase in consumption, investment and exports,” he added.

Calls for continued monetary easing: “We expect the recovery process to benefit from the tailwinds of a steady, but extended, monetary easing cycle and strong global risk appetite which should ensure Egypt continues to benefit from capital inflows,” said Williams.