The Effect Of Egypt's Dollar Crisis On Oils & Fats Import And Consumption
39
VIEWS
by Zainuddin Hassan
The country's foreign currency reserves were less than half of what they were before the January 2011 uprising, threatening Egypt's ability to pay for everything from equipment to oils & fats. Years of political turmoil and uncertainties have driven off foreign investors and tourists and this include sources of forex it needs to finance imports. The supply of dollars through official channels were not enough to meet demand. The acute shortage of U.S. dollars in the economy threatened to restrain imports and economic activities.
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