The economic implications of Egypt's second revolution

It goes without saying that there’s a vast amount of uncertainty about how events will develop in Egypt. But the economy looks more fragile now than at any time since the first Arab Spring revolution in 2011. A potential crunch point for the financial markets could come later this year when $5bn of FX debt is scheduled to be repaid. Even so, it’s worth emphasising that political and economic stability is in the interest of all the major local and international players. This should ensure that Egypt avoids descending into complete chaos.