Jul 6, 2020 - 7 min
Countries from Jordan to Egypt will struggle to mitigate the pandemic’s economic impact. "Egyptian bankers said they expected Cairo to let the currency depreciate gradually — weakening currencies fuel inflation and add to countries’ debt servicing costs. Egypt had been reducing its debt but it is still about 80 per cent of GDP. Jordan and Tunisia’s debt to GDP ratios are both even higher." Andrew England and Heba Saleh, writing in the Financial Times, report.