Egyptian President Abdel Fattah al-Sisi had already said in June that further devaluation of the pound could affect national security and the well-being of the country’s people. With energy and food prices accounting for about 38% of the consumer price index, the June inflation level is likely to heighten his concerns. There's more to this story Get unlimited access to our exclusive journalism and features today. Our award-winning team of correspondents and editors report from over 54 African countries, from Cape Town to Cairo, from Abidjan to Abuja to Addis Ababa. Subscribe Now cancel anytime Already a a subscriber Sign In

Source: The North Africa Journal July 11, 2023 19:13 UTC