As the Egyptian Economy Suffers, the Informal Sector Grows

Egypt’s financial straits continue to worsen as the Egyptian pound devalues, foreign reserves dwindle and the international community postpones loans. With a deteriorating political situation and the transition to democracy stalled, many Egyptians are facing down the prospect of a tsunami of rising food prices and the certainty of harsh austerity measures. But one area of the economy is thriving. Monocle’s Joseph Dana sends us this report from Cairo about Egypt’s burgeoning informal economy. Original air date: 12 February 2013

Egypt’s financial straits continue to worsen as the Egyptian pound devalues, foreign reserves dwindle and the international community postpones loans. With a deteriorating political situation and the transition to democracy stalled, many Egyptians are facing down the prospect of a tsunami of rising food prices and the certainty of harsh austerity measures. But one area of the economy is thriving. Monocle’s Joseph Dana sends us this report from Cairo about Egypt’s burgeoning informal economy. Original air date: 12 February 2013