After being the best performing stock market in the Middle East and North Africa last year with a 40 per cent gain there is really only one way to go for Egypt in 2013 and that is down. it does not help that the Cairo bourse is on a high when the real economy is threatened with total collapse.
Last week Qatar came to its rescue with a $2 billion sticking plaster to support the Egyptian pound but it still dropped sharply in value anyway as worried Egyptians turned their pounds into dollars. And negotiations over a crucial $4.8 billion IMF rescue package appear to have stalled with the government unable to commit to tax hikes and spending cuts.
Egyptian bourse easily the regional exchange most vulnerable to a big fall this year « ArabianMoney
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