Macron has spent a fortune, bond yields are going up, stocks are falling, Brussels is demanding reform, the IMF is preparing an emergency package, and populists are at the gate... Sacré bleu!

The Egyptian Pound is weak, and the country is losing income from Houthi missiles, causing ships to avoid the Suez Canal. The timing is bad, as Cairo asks the IMF for $750mn in loans.

The global debt burden decreased for the second year in a row, even though it remains above its already-high pre-pandemic level, according to the latest update of the International Monetary Fund’s…

Downgrade was prompted by declining foreign exchange inflows, continued restrictions to the Egyptian pound's exchange rate, as well as external pressures to the economy