The fifth anniversary of the Egyptian government’s decision to float the currency came and went on 3 November. The flotation saw the Central Bank leaving the Egyptian pound to supply and demand mechanisms without any interference. On the anniversary last month, the government published a detailed report that highlighted the so-called positive impact of the flotation decision on the economy and how it improved the currency’s performance. The government claimed, through the publication of some economic indicators, that the Egyptian economy has been buoyant for five years, with an increase in international reserves at the Central Bank of Egypt of 108.2 per cent up to $40.8 billion at the end of September this year, compared with $19.6bn at the end … Continue reading The Egyptian economy is in danger and people cannot eat, says ex-media CEO