Egyptians blame leadership as prices rocket

Open air market in downtown Cairo

Open air market in downtown Cairo Source: Getty / Peter Adams

The Egyptian pound has hit its lowest value, ever, against the US dollar this week. Egypt faces a serious economic meltdown, that puts the livelihoods of more than a 100 million Egyptians at risk. A few weeks ago, the IMF approved a new three- billion- dollar loan for Egypt, the fourth since 2016. Critics accuse the country’s strong man, President Sisi, of mismanaging the economy, and wasting the country’s resources on luxurious mega-projects.


Listen to Australian and world news, and follow trending topics with


Share

Get SBS News daily and direct to your Inbox

Sign up now for the latest news from Australia and around the world direct to your inbox.

By subscribing, you agree to SBS’s terms of service and privacy policy including receiving email updates from SBS.

Download our apps
SBS News
SBS Audio
SBS On Demand

Listen to our podcasts
An overview of the day's top stories from SBS News
Interviews and feature reports from SBS News
Your daily ten minute finance and business news wrap with SBS Finance Editor Ricardo Gonçalves.
A daily five minute news wrap for English learners and people with disability
Get the latest with our News podcasts on your favourite podcast apps.

Watch on SBS
SBS World News

SBS World News

Take a global view with Australia's most comprehensive world news service
Watch the latest news videos from Australia and across the world