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Reasons to be cheerful? Cairo certainly hopes so
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Reasons to be cheerful? Cairo certainly hopes so
At first glance a near-overnight 10 percent decline in your currency versus the US dollar and a similar fall in a stock exchange benchmark is not a great result. Egypt has had a lot to contend with since Covid and Russia’s invasion of Ukraine. Notably, the efforts of Houthi rebels in Yemen against international shipping have curtailed Suez Canal revenues while fighting in neighbouring Gaza has provided (at best) two years of unwelcome headlines.…
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