-
How to Tell When Egypt’s Next Currency Devaluation Is Coming
Egypt is mired in a grueling economic crisis that’s left its 105 million-plus people gripped by uncertainty, but one thing seems all but assured: another currency devaluation is likely on the way. The anticipated move would be the fourth major round of weakening for the Egyptian pound since early 2022 — and potentially the largest yet. Done correctly, it could help bring closer to an end the nation’s worst hard-currency crunch in decades, drawing foreign capital to the $400 billion economy and pulling it back from the brink. Urgency is building for Egypt, given that it faces total financing needs Goldman Sachs ... (full story)