1. The Egyptian Financial Crisis: Implications for the region, and for Israel too
- Author:
- Eran Lerman
- Publication Date:
- 03-2023
- Content Type:
- Working Paper
- Institution:
- Jerusalem Institute for Strategy and Security (JISS)
- Abstract:
- Egypt continues to play an active role in regional affairs, including the Aqaba emergency meeting on the Palestinian situation (February 26) and the ongoing effort to prevent escalation in Gaza. At the same time, Cairo is in the middle of a significant financial crisis. The effects of the war in Ukraine – specifically, grain shortages – brought the Egyptian pound to more than 30 to the dollar, up from 20 in November and 15 in early 2022, facilitated by deliberate government action in response to demands by the IMF. Inflation still soars, and so does youth unemployment. All this could destabilize a nation of 105 million on our border, with dire consequences.
- Topic:
- Financial Crisis, Conflict, Fiscal Policy, and Financial Stability
- Political Geography:
- Africa, Middle East, Israel, Egypt, and MENA