Égypte : le président évoque un '' état d'urgence économique""
Abdel Fattah al-Sisi sounded the alarm on Thursday, saying his country is in a "state of economic emergency" because of the war in the Middle East.
The Egyptian president fears the potential consequences for the Suez Canal, a vital source of foreign currency for Egypt.
On Tuesday, the local currency, the pound, was trading at 50.2 to 1 USD, its lowest level against the greenback in eight months. It has already lost two-thirds of its value since 2022.
Faced with this situation, the Egyptian president warned against rising prices in the country. He targeted merchants accused of price gouging, who could be tried in military courts.
Abdel Fattah al-Sisi said on Thursday that his country was attempting "sincere and honest mediation efforts to end the war, because its continuation will have a high cost."
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