Egypt Avoided an Economic Meltdown. What Next?

In a few short weeks in March, Egypt emerged from its worst currency crisis in decades to become the hottest trade in emerging markets. The rapid change of fortune began with a $35 billion tourism development deal with the United Arab Emirates, the largest inward investment in Egypt’s history. This brought an infusion of dollars that paved the way for a record interest rate hike and an expanded International Monetary Fund loan. Whether the government is able to fix the economic problems that pre

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