Cairo – Mubasher: Egypt’s M2 money supply slowed down in December, compared to November’s figures, according to the Central Bank of Egypt (CBE).

The country’s M2 grew 13.3% to EGP 3.63 trillion ($205.9 billion) at the last month of 2018 versus 14% month earlier.

Egypt is trying to cut inflation to achieve the goals of its financial reform programme, which was devised to receive a $12 billion loan from the international monetary fund (IMF).

The North African country’s urban inflation declined to 12% in December from 21.9% in the year-ago period.