DEPT. OF THE OBVIOUS

The pandemic hasn’t been kind to our current account

The pandemic hasn’t been kind to Egypt’s current account: Egypt’s current account deficit more than tripled to USD 3.83 bn in 4Q FY2019-2020 from USD 1.09 bn the year before as the pandemic dealt a heavy blow to the country’s sources of hard currency, according to Reuters’ calculations of central bank figures (pdf) released yesterday.…