Egypt : Winter of Arab Spring 2011

2011 Arab Spring saw Tahrir Square overthrow Mubarak. Egyptians celebrated as he fell in disgrace. However, immature democracy that Egypt is it sank into near anarchy. Tourists , Egypt's mainstay revenue givers, stopped coming.  Egypt's pound has since slipped and slipped miserably dollar to Egyptian pound at 5.8 in 2011 to 7.10 official; (7,50 in black ) There is a black market which is nearly 8 % behind the official rate. With the dollar rising, that spread will widen in favour of those who have dollars. Inflation exceeded 11.5 % last year. IMF estimates estimates that the budget deficit will reach about 11 percent of GDP,

Egypt’s foreign reserves, which stood at $36bn on the eve of the  Revolution,  currently hovers around 3 months imports at  $13.

With oil prices falling and the benefactors in GCC not seeing a power anymore in Egypt, this country seems slipping and slipping. Holding on to Egyptian assets seems a decline in wealth.