Egypt’s economic crisis is a golden opportunity

 Egypt is on the brink of a financial and economic abyss. The portfolio inflows that fueled its sovereign debt market have dried up, repeated currency devaluations have driven the Egyptian pound off a cliff, and inflation is at 21%, following the rapid erosion of the country’s foreign-exchange reserves.

After initially recovering from the COVID-19 pandemic, the Egyptian economy has been hit hard by the fallout from the war in Ukraine.

As the world’s biggest wheat importer, the country has suffered from supply disruptions and soaring prices, with food and beverage costs increasing by 37.2% over the past year.