AFP Forum

EGYPT - ECONOMY - CURRENCY - INFLATION

EGYPT - ECONOMY - CURRENCY - INFLATION
A beggarwoman sells tissue paper packets along the fence of the historic Azhar mosque in the Azhar district of Egypt's capital Cairo on January 16, 2023. With Egypt's economy in crisis, the currency in freefall and inflation skyrocketing, the poor have been hit hard but the middle class is also teetering on the brink. The Egyptian pound has lost half its value against the dollar since March, following a devaluation demanded as part of a $3 billion International Monetary Fund loan agreement. Official annual headline inflation hit 21.9 percent in December, and food prices surged 37.9 percent in the Arab world's most populous nation.
Khaled DESOUKI / AFP