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Pound record lows against the dollar and the euro in the week ?clashes and emergency?
Friday, February 1, 2013 - 15:58 News
The Egyptian pound continued to decline against most foreign currencies during the past week, to record lows against the euro and the U.S. dollar in more than 10 years, and against the pound sterling in more than 5 years.
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?Socioeconomic time bomb? ticking in troubled Egypt
PATRICK MARTIN
The Globe and Mail
Published Thursday, Jan. 31 2013, 9:08 PM EST
Last updated Thursday, Jan. 31 2013, 10:21 PM EST
snip
Egypt imports about 40 per cent of its food, including some 60 per cent of its wheat, an important staple, so the effect is widely felt.
With a quarter of all Egyptians getting by on about $1 a day, and another quarter living on $2 a day, it?s no surprise that the Egyptian Food Observatory reports 86 per cent of Egyptian households have insufficient income to pay for total monthly needs.
Pound record lows against the dollar and the euro in the week ?clashes and emergency?
Friday, February 1, 2013 - 15:58 News
The Egyptian pound continued to decline against most foreign currencies during the past week, to record lows against the euro and the U.S. dollar in more than 10 years, and against the pound sterling in more than 5 years.
-------------------------
?Socioeconomic time bomb? ticking in troubled Egypt
PATRICK MARTIN
The Globe and Mail
Published Thursday, Jan. 31 2013, 9:08 PM EST
Last updated Thursday, Jan. 31 2013, 10:21 PM EST
snip
Egypt imports about 40 per cent of its food, including some 60 per cent of its wheat, an important staple, so the effect is widely felt.
With a quarter of all Egyptians getting by on about $1 a day, and another quarter living on $2 a day, it?s no surprise that the Egyptian Food Observatory reports 86 per cent of Egyptian households have insufficient income to pay for total monthly needs.