VOL. XLI

No. 19

11-May-1998

PUBLICATION RECEIVED

Egypt in the Global Economy: Strategic Choices for Savings, Investments andLong-Term Growth, The World Bank, 1818H Street, N.W., Washington D.C., 20433, USA.96pp.

"Whatever happens to growth," says the World Bank, "Egypt needs toreduce internal debt to maintain her freedom of action and increase her ability to dealwith external shocks." In this study the Bank argues that Egypt's large stock of debtexposes the country unduly to capital volatility....