{"id":553108,"date":"2022-10-20T13:33:20","date_gmt":"2022-10-20T13:33:20","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2022\/10\/20\/tonight-egypt-economic-conference-next-week-liz-truss-resigns-after-just-6-weeks-as-uk-pm\/"},"modified":"2022-10-20T13:33:20","modified_gmt":"2022-10-20T13:33:20","slug":"tonight-egypt-economic-conference-next-week-liz-truss-resigns-after-just-6-weeks-as-uk-pm","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2022\/10\/20\/tonight-egypt-economic-conference-next-week-liz-truss-resigns-after-just-6-weeks-as-uk-pm\/","title":{"rendered":"TONIGHT: Egypt economic conference next week + Liz Truss resigns after just 6 weeks as UK PM"},"content":{"rendered":"

<\/a> It\u2019s a big week next week:<\/strong> The Madbouly government\u2019s highly-anticipated economic conference kicks off on Sunday and runs through Tuesday. The gathering will see government officials, experts, and economists come together with the aim of creating a roadmap for the country\u2019s economic future.<\/p>\n

The conference has three main tracks:<\/strong> Macroeconomic policies; empowering the private sector and improving the business environment; and formulating a future roadmap for priority sectors.<\/p>\n

A technical committee is already looking into some 300 proposals <\/strong>for policies and measures to increase the flexibility and competitiveness of the Egyptian economy. They\u2019re being filtered and passed on to the relevant authorities. At the end of the three days, a closing session will be held to draw attention to the conference\u2019s outcomes.<\/p>\n

Want to weigh in throughout the conference? Download the app.<\/strong> The Madbouly government has released the economic conference app for Android<\/a> and iOS<\/a> to give participants the chance to follow the proceedings and share their input.<\/p>\n

*** READ OUR (RELATIVELY) SIMPLE <\/strong>FIVE-STEP RECIPE<\/a><\/strong> policymakers can follow to turn the economy around by capturing a once-in-a-century chance to turn Egypt into a magnet for FDI and make us into an export powerhouse in the process.<\/p>\n

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<\/a> Driving the news agenda internationally as we slide into the weekend is the escalating<\/strong> political chaos in the UK:<\/strong> Just an hour ago, Liz Truss officially became the shortest-serving prime minister in British political history, tendering her resignation after barely a month in office amid rebellion in her party. Truss and her ex-chancellor Kwasi Kwarteng made the most of their six weeks running the country, with their neoliberalism-on-steroids package of tax cuts and deregulation nearly blowing up the UK financial system<\/a>, punching a multi-bn GBP hole in the country\u2019s public finances, and consigning the ruling Conservative Party to almost certain electoral defeat in 2024. A new PM is expected to be appointed by the party in the coming week, with ex-chancellor Rishi Sunak the bookies\u2019 favorite. (BBC<\/a> | AP<\/a> | Reuters<\/a> | FT<\/a> | Bloomberg<\/a> | WSJ<\/a> | Sky News<\/a> | CNBC<\/a>)<\/p>\n

The JPY is getting a lot of attention in the global business press<\/strong> after it slipped a further 0.1% against the greenback today, falling past JPY 150 for the first time since 1990. A USD 20 bn intervention by the central bank last month has failed to stem the currency\u2019s slide, which has seen it lose more than 23% of its value against the greenback YTD. Markets are now expecting more action from the BOJ in the coming days. (Reuters<\/a> | FT<\/a> | Bloomberg<\/a>)<\/p>\n

** CATCH UP QUICK on the top stories from today\u2019s EnterpriseAM:<\/strong><\/p>\n