The Central Bank of Egypt (CBE) has reportedly proposed a three-stage devaluation timeline, with the first stage to occur within days as part of talks with the International Monetary Fund (IMF) for USD12bn loan package, an unnamed government source told Al Shorouk newspaper without disclosing details of the timeline. Meanwhile, the CBE is also in talks with the banking sector to set policies against speculative hoarding of the USD, such as further caps on USD withdrawals, more stringent monitoring of the issuance of letters of credit and high-yield savings certificates. (Al Shorouk)