Egypt funding crunch slowing food payments again-traders | GulfNews.com:
"Egypt’s financial crisis is hindering payments for food commodities as banks and traders say some of the funding problems which first surfaced early last year are re-emerging.
Subsidised food is considered essential to heading off social unrest in the world’s biggest wheat buyer, a nation that has seen protests lead to the removal of two Egyptian presidents in the past three years.
Traders and bankers said tight foreign currency reserves, combined with the Central Bank taking a particularly cautious approach to allocating these funds, were slowing payment procedures for food bought by state entities."
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