While nobody was paying attention, the Egyptian economy is in meltdown
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  While nobody was paying attention, the Egyptian economy is in meltdown		 « previous next »
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Author Topic: While nobody was paying attention, the Egyptian economy is in meltdown  (Read 299 times)
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CrabCake
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« on: November 10, 2016, 07:09:26 AM »
 The Egyptian pound has fallen 50 percent after being floated in markets and fuel and oil subsidies have been slashed. There is very high inflation, which is feared to get worse.

As you can tell, the IMF has been in town.
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Hnv1
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« Reply #1 on: November 10, 2016, 10:20:41 AM »
It's been in meltdown as like no as I can remember
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Filuwaúrdjan
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« Reply #2 on: November 10, 2016, 01:29:54 PM »
Quote from: Hnv1 on November 10, 2016, 10:20:41 AM
It's been in meltdown as like no as I can remember

Yeah, the permacrisis was one of the main reasons for Muburak's fall etc.
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ingemann
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« Reply #3 on: November 10, 2016, 04:04:40 PM »
Quote from: 🦀🎂 on November 10, 2016, 07:09:26 AM
The Egyptian pound has fallen 50 percent after being floated in markets and fuel and oil subsidies have been slashed. There is very high inflation, which is feared to get worse.

As you can tell, the IMF has been in town.

The Saudi have cut their economic support and their oil deliverance to Egypt. That's the main reason.
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