VOL. XL

No. 44

3-November-1997

EGYPT

Egyptian Reform Gathers Pace

Bolstered by foreign exchange reserves in excess of $20bn, a solid exchange rate andfalling inflation, the macro-economic fundamentals of the Egyptian economy areindisputably solid. But how far has reform in the capital market gone and how sustainableis Egypt's progress? MEES Associate Editor James Drummond reports from Cairo.

In the light of the recent turmoil in international capital markets, senior Egyptianofficials told MEES...