Saturday 23, February 2013 by Robin Amlôt
Egypt losing its spring?
NBK Capital MENA reports that the overall riskiness of Egyptian equities has increased recently due to ongoing EGP depreciation, higher inflationary expectations, weaker fiscal and balance of payment dynamics, falling foreign currency reserves and the overall negative economic climate. In addition, there has been political deadlock, delays in reaching an agreement with the IMF, and further downgrades by the international rating agencies.
