tag current-account deficit

Africa’s Next Big Devaluation Is Seen Unfolding in Egypt

EghtesadOnline: According to Egypt’s president, the country’s future is at stake. With its currency trading near a record low in the black market, reserves to cover just three months of imports and a widening current-account deficit , pressure is mounting on the most populous Arab state to devalue the pound to alleviate a dollar shortage that prompted officials to seek help from the International Monetary Fund.
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Publish Date:24/August/2016 | 09:19