Egypt's Currency Weakens to 26.49 to the Dollar

The Egyptian pound weakened to 26.49 to the dollar on Wednesday, its biggest one-day move since the central bank allowed it to fall by 14.5% on Oct. 27, according Refinitiv Data. It was about 24…

The End of Magic Money

Two years ago, I predicted in Foreign Affairs that the COVID-19 recession, coming on top of the financial crisis of 2008, would lead rich democracies to redefine the outer limits of their monetary…

Sebastian Mallaby