At $60 billion, the country's trade deficit is a seventh of its gross domestic product. The 40% fall in the exchange rate of the Egyptian pound from 6 to the dollar late last year to 8.25 on the black market last week will raise the cost of imports even further. The half of Egyptians that lives on $2 a day no longer eats beans, let alone milk products.Denn das Land ist pleite (Wirtschaftswoche). Allerdings sollte sich niemand Illusionen über die vom IWF angestrebten "Reformen" machen. Es handelt sich um das übliche Austeritätspaket (ahram online). Die Asia Times schließt mit dem Hinweis auf die Entwicklungshilfe der USA für das Nilland:
The price of fava beans, the country's second-most important food staple, has already risen by 40% this year, to 5,000 Egyptian pounds (US$728) per ton from $3,000 Egyptian pounds in January. Imports of proteins have collapsed ...
The price of imported milk products, which account for 60% to 65% of consumption, has risen by 60% since January, the Gazette reported.
The only basic foodstuffs still available to poor Egyptians are state-subsidized bread, sugar and oil. That may change drastically during the next several months.
The only practical assistance the US has provided to the Morsi government took the form of a shipment of 140,000 teargas canisters.