Hit hard (among other factors) by a collapse in revenue from tourism, Egypt has won approval for a $12 billion emergency loan from the International Monetary Fund.
This comes hot on the heels of the decision to move to a floating currency in a bid to stabilise demand and output. Will both decisions help the economy overcome longstanding structural economic weaknesses? What are the downsides for a developing/emerging country of seismic falls in the external value of a currency?
© 2022 Tutor2u Limited. Company Reg no: 04489574. VAT reg no 816865400.