UAE Extends Lifeline to Sudanese Refugees in Uganda’s Kiryandongo Camp

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 The United Arab Emirates (UAE) has reinforced its reputation as a global leader in humanitarian aid with the distribution of 30,000 food baskets to Sudanese refugees in Uganda’s Kiryandongo camp. This initiative, benefitting nearly 100,000 displaced individuals, represents the second phase of the UAE’s sustained humanitarian efforts, which commenced in April 2024. A Lifeline for Refugees The Kiryandongo camp, home to thousands of Sudanese refugees who fled the ongoing crisis in their homeland, has seen its inhabitants struggle with food insecurity and basic needs. The UAE’s food aid has provided a critical lifeline, addressing immediate food shortages and offering hope to a vulnerable population. The distribution event was overseen by UAE Ambassador to Uganda, Abdullah Al Shamsi, who was joined by Ugandan officials and civil society representatives. During the event, Ambassador Al Shamsi reiterated the UAE’s unwavering commitment to international solidarity, emphasizing the nation’s $
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Egypt Implements Currency Float to Address Economic Challenges

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In a bid to address economic challenges, Egypt has implemented a currency float, allowing its pound to freely trade on currency markets. The move comes after the country secured an $8 billion loan from the International Monetary Fund (IMF) and raised its overnight interest rates by 600 basis points. The decision aims to unify the country's official exchange rate and the rate on its parallel market, which had been double the official rate for months, affecting the import-heavy economy.

The Central Bank of Egypt (CBE) stated that it is committed to transitioning to a flexible inflation targeting regime, with inflation as its nominal anchor, allowing the exchange rate to be determined by market forces. The float is expected to help Egypt withstand economic challenges and strengthen its foreign reserves.

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