Extreme poverty, disguised unemployment, political and economic chaos, outrageous wealth for a few at the expense of the majority of people, an unprecedented drop in the value of the pound against foreign currencies, eating up people’s savings, a strong decline in the standard of living, a steady increase in public debt, an unprecedented rise in […]
The International Monetary Fund (IMF) announced its approval of a 46-month cooperation program for Egypt, in an amount of 3 billion US dollars, according to a statement from the IMF on Saturday 12/17/2022. The package of policies included in the program includes measures, including the permanent transition to a flexible exchange rate system and the […]
On Thursday morning, October 27, 2022, the Central Bank of Egypt raised interest rates by 200 basis points, during an exceptional meeting, so that the rate of return for deposit and lending overnight became 13.25 percent and 14.25 percent, respectively, and the Central statement included an important paragraph in which it said that: “Reform measures […]
Question: The Egyptian market is witnessing a significant rise in prices, and the Central Bank devalued the pound. The state announced its intention to hold a national dialogue with all parties, and released three thousand prisoners. What is the reality and causes of this economic crisis in Egypt?