News
Nobel Peace Prize-winning activist Tawakkol Karman has unveiled a concise roadmap aimed at guiding Egypt towards democracy, freedom, and prosperity.
In a post on her official social media page, Karman outlined the plan, which involves the removal of President Sisi and his government. She proposes the establishment of a transitional government to lead Egypt towards the realms of democracy, freedom, prosperity, and global leadership.
Karman's remarks coincide with Egypt's deepening economic crisis, witnessing an unprecedented devaluation of the Egyptian pound. The parallel market sees the dollar surpassing 60 Egyptian pounds, in stark contrast to its stable official rate below 31 pounds in Egyptian banks. This economic struggle is compounded by the persistent foreign currency shortage in Egypt, contributing to widespread economic challenges, soaring prices, and escalating inflation.
Experts attribute the surge in the parallel market to the Central Bank's dollar liquidity shortfall, transforming the dollar into a commodity rather than a mere medium of exchange. This scarcity prompts individuals to invest in the dollar as a reliable store of value. Importers, faced with the absence of dollars in the banking system, turn to the parallel market to meet their needs, intensifying speculation and propelling the dollar to historic highs.