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Rapid currency slide chokes business in Egypt

Posted on 02 November 2016

Business is grinding to a near-halt in Egypt as companies struggle to keep pace with a rapid slide in the black market value of the pound. Factories are halting production, shops are running low on stocks and a sense of panic is spreading.
Bassem Hussein, whose company imports, processes and packages coffee and spices, stopped buying two weeks ago as the depreciation of the Egyptian currency gathered pace. His goods are still on sale at supermarkets but no more stock is on the way for now……………………………………Full Article: Source


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