The economic reforms have benefited one kind of trader: the stock broker

Egypt’s economic reforms have benefited one kind of trader: the stock broker. That is the contention of Bloomberg’s Ahmed Feteha, who compares the fate of financial services in Egypt to those of selling fruit and veggies on the streets. Foreign investments in the stock market have led the EGX on a record run in January, while Egyptian debt has proven very attractive to investors, a benefit little understood and felt by the majority of Egyptians. The key for this benefit to translate into the wider economy rests on the people’s patience and the risks of a return to social and political unrest. For now, at least, the risk appears low, the author argues.