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In another interview with pro-government TV host Amr Adeeb, Maait said there is "clear prejudice" against Egypt. B The Fitch Ratings move is deemed to be politically motivated. b Egyptian local media outlets have discussed a recent report by finance and insurance company Fitch Ratings in which it downgraded the country's credit rating. [Extracted from the article]

B The disbursement of funds to provide budgetary support is approved. b On December 16th the Executive Board of the International Monetary Fund (IMF) approved a 46-month arrangement under the Extended Fund Facility (EFF) for Egypt in an amount of about US$3bn. The CBE's Monetary Policy Committee (MPC) raised the overnight deposit rate and overnight lending rate to 16.25% and 17.25% respectively, the privately owned website I Youm7 i reported I (21/12) i . The pound skyrocketed to 32 against the dollar on January 11th and then settled at 29.7 by the end of the day in tandem with the Central Bank of Egypt (CBE) adopting a flexible exchange rate in accordance with the terms of the IMF financial support package. [Extracted from the article]