Egypt’s pound (EGP) is trading near its strongest levels since October 2024, supported by optimism over a nearly finalized USD 4 bln tourism project in Alamein’s North Coast with Qatar, mirroring the USD 35 bln Ras El-Hekma deal. The project, under a usufruct agreement granting Egypt 15% of future revenues, is expected to deliver major foreign inflows. Egypt’s mediation in a Gaza truce deal has further lifted sentiment, though the IMF continues to warn about sluggish reforms, state dominance, and rising external debt.