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May 15, 2011

Recessions & Stability: Tunisia, Egypt

No surprise that  Recession fears for Egypt and Tunisia (FT) are looming, given the ongoing instability.

Mr Abed [of IFI] was optimistic about the prospects of Egypt financing its current account deficit. He said that Gulf countries were likely to provide a package of measures including grants, long-term loans and deposits into the Egyptian central bank with development banks and the International Monetary Fund likely to bridge any remaining gap.

However, I have deep scepticism that the Gulf States are going to genuinely come up with much money.  Egypt, perhaps, but not Tunisia.  

Posted by The Lounsbury at May 15, 2011 08:50 PM
Filed Under: Economic Policy , Maghreb , North Africa , The MENA '48

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