Egypt v. Coronavirus: The pound faces a war of attrition, not a crisis

“The COVID-19 pandemic raised the risks for the Egyptian currency in several ways. Tourism, which was bringing in US$1b a month, has collapsed. Many foreign investors have sold their Egyptian T-bills. Revenue from the Suez Canal has slumped, with the Economist Intelligence Unit in London predicting a 22.6% decline in global trade volume in 2020.”

via The Africa Report