The recent devaluation of the Egyptian pound will create winners and losers within the country through its impact on balance sheets. Households and commercial banks stand to gain from a rise in the pound value of their foreign currency assets, but the government could be a big loser and may have to take further steps to prevent the already-large budget deficit from widening.
Subscriber content
Read this in full, free
Start a free trial and use one of your 10 free starter credits to unlock this piece.