Egypt non-payment risks

How the current war may provide a lifeline for Egypt despite impending devaluation and capital controls, and why Egypt will not reform.

Egypt’s inflation rate is 36%, interest rates are at 20%. The Egyptian pound is trading in the black market at nearly 50EGP/USD while the official figure is 30.8 EGP/USD.

Presidential elections are underway. They will conclude on 12 December with a certain win for President Abdul Fattah al-Sisi. It is very likely that Egypt was waiting for the elections …