VOL. XLV

No 4

28-January-2002

EGYPT

EgyptArrests Forex Traders As Pound Continues Black Market Slump

Aftercomplaining earlier this month that speculators were exacerbating the Egyptian poundsslide against the dollar on the black market, the Egyptian Government tookdrastic action on 23 January to protect its economy and ordered the arrest of10 Egyptian foreign exchange traders. They were picked up in the cities ofCairo, Alexandria, Tanta and Port Said and placed in administrative detention,under...