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Egypt’s Military to Lend $1 Billion to Bolster Currency

New York Times Original article ›

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The Egyptian military government projects foreign currency reserves will drop to $15 billion in January 2012, with $5 billion for prior obligations. The $10 billion only covers 2 months of imports. This is expected to lead to a further devaluation of the currency and rise in prices.

Egypt's central bank running out of reserves in 2011-2013

02/03/2011

The economic crisis facing Egypt after years of underinvestment in the economy.

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