Middle East & North Africa Chart Pack Egypt back in the spotlight Investors have lost even more confidence in Egypt over the past month. The equity market has tumbled and, while this could in part be related to signals by the US Fed that it will begin to taper QE3... 24th June 2013 · 1 min read
Middle East & North Africa Economics Update Egypt: pound's devaluation has further to go In spite of the Central Bank of Egypt’s best efforts, it appears to be only a matter of time before the Egyptian pound breaks through 7/US$. And there is a growing risk that, without an IMF deal, the... 18th June 2013 · 1 min read
Middle East & North Africa Economics Update What would the tapering of QE mean for the MENA region? Fears that the US Fed may begin to taper its third round of quantitative easing (QE) have led to a sell-off in emerging market assets over the past few weeks. The MENA region has escaped relatively... 13th June 2013 · 1 min read
Middle East & North Africa Economics Update Fears of inflation and unrest to frustrate subsidy reform Subsidies are becoming increasingly unaffordable across the poorer parts of the MENA region. But the threat of higher inflation and social unrest is likely to frustrate efforts at subsidy reform. 11th June 2013 · 1 min read
Middle East & North Africa Economics Update Youth unemployment likely to have risen further Two and a half years on from the Arab Spring uprisings, youth unemployment in the Middle East, which was a key trigger for the unrest, remains high. In fact, we suspect it may have risen over the past... 6th June 2013 · 1 min read
Middle East & North Africa Economics Update Egypt's government finances need to be brought under control Ongoing political uncertainty has led to a sharp deterioration in the Egyptian government’s finances. The measures required to put them on a more sustainable footing are politically sensitive. But... 5th June 2013 · 1 min read
Middle East & North Africa Economics Update Too early to say Egypt’s economy has turned the corner Although Egypt’s headline PMI rose sharply in May to reach its highest level in six months, we would caution against reading this as a sign that the economy has turned the corner. Meanwhile, PMIs for... 3rd June 2013 · 1 min read
Middle East & North Africa Economics Update Tunisian dinar falls on back of IMF deal The Tunisian dinar has been one of the worst performing EM currencies over the past couple of months. Meanwhile, equity markets in the Gulf have continued to rally. 29th May 2013 · 1 min read
Middle East & North Africa Chart Pack Gulf growing at a healthy pace Growth in the Gulf economies has held up well over the first few months of this year. Admittedly, the weakness of the global economy is weighing on demand for the region’s hydrocarbon exports. But... 22nd May 2013 · 1 min read
Middle East & North Africa Economics Update Does Egypt need an IMF deal? Egypt has muddled through without an IMF deal for over two years, as bilateral aid has staved off a full-blown balance of payments crisis. But this cannot go on forever. The longer Egypt goes without... 13th May 2013 · 1 min read
Middle East & North Africa Economics Update Egypt refrains from hiking interest rates The Egyptian central bank’s decision to hold interest rates today came as a surprise, but with the country still on the brink of a full-blown balance-of-payments crisis we would not be surprised if... 9th May 2013 · 1 min read
Middle East & North Africa Economics Update Egyptian cabinet reshuffle doesn't change bigger picture The reshuffle of Egypt’s cabinet, including a complete overhaul of the government’s economic team, doesn’t change the bigger picture that achieving support from across the political spectrum for much... 7th May 2013 · 1 min read
Middle East & North Africa Economics Update PMIs suggest growth divisions widening April’s PMI data paint a familiar picture of continued economic weakness in Egypt and continued rapid growth in the Gulf. 7th May 2013 · 1 min read
Middle East & North Africa Economics Update Mounting risks for Egypt's banks Egyptian banks have been remarkably stable throughout the political upheaval of the past few years. If we’re right in thinking that Egypt’s economy will continue to muddle through without falling into... 30th April 2013 · 1 min read
Middle East & North Africa Chart Pack Egypt and the IMF: still no breakthrough Political deadlock in Egypt has placed another obstacle in the way of negotiations with the IMF. A team from the Fund left Cairo earlier this month without an agreement in place, apparently as a... 25th April 2013 · 1 min read
Middle East & North Africa Economics Update What does the fall in oil prices mean for the MENA region? The recent fall in oil prices is unlikely to unduly trouble the Gulf States. Prices need to drop much further and stay there before they run fiscal deficits, and even then large savings and low debt... 18th April 2013 · 1 min read
