Floating Egyptian currency halves its value, balloons debt
377 views · Published 11 January 2017 · 2:13 · Indexed 23 September 2026
Channel: CGTN Africa · 2017 · News & Politics
Thousands of Egyptian importers have been under strain by the recent government decision to float the Egyptian Pound. The step has halved the official value of the national currency leaving many with ballooning dollar debts. Importers say their crisis will worsen shortages of essential goods, and could deteriorate an already volatile market. Here is Adel EL Mahrouky with more.
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