Egypt won over investors with currency liberalization. Now it must fight to keep them

Egypt won over investors with currency liberalization. Now it must fight to keep them: Egypt, Angola, Nigeria and Morocco present interesting examples of emerging markets whose adoption of currency liberalization measures was largely driven by investors as they tapped international markets. The question now remains if they have done enough, writes Paul Wallace for Bloomberg. Egypt has come the furthest in implementing full currency liberalization, and it saw its currency plummet further than the Kwanza and Naira, which were partially floated. Increased inflows have demonstrated that Egypt has become more attractive to investors. But this could be a double edged sword, Societe Generale SA warned last week, as those flows are a could reverse if the government slows down its macroeconomic reforms.