Egypt’s middle class cuts costs as IMF-backed reforms take hold

Egypt’s middle class cuts costs as IMF-backed reforms take hold …C0NTINUE READING HERE >>>

A roadside vegetable market in Cairo — as Egypt implements IMF economic reforms, middle class purchasing power is eroding.
Photo: Khaled DESOUKI / AFP/File
Source: AFP

Egypt’s economy has been in crisis for years, but as the latest round of International Monetary Fund-backed reforms bites, much of the country’s middle class has found itself struggling to afford goods once considered basics.

The world lender has long backed measures in Egypt including a liberal currency exchange market…

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