What UAE’s $35 Billion Investment In Egypt Means (Odd Lots Podcast)

Listen to Odd Lots on Apple Podcasts
Listen to Odd Lots on Spotify
Subscribe to the newsletter

The United Arab Emirates recently unveiled a stunning $35 billion investment in Egypt, snapping up development rights in an area on the Mediterranean coast. The announcement has since paved the way for Egypt to float its currency, easing a currency crisis that’s been going on for years now and paving the way for an even bigger bailout from the IMF. But why exactly is the UAE pumping roughly 7% of its GDP into Egypt? What does the deal say about politics in the Middle East region? And what does it mean for the flow of petrodollars — the vast amount of money generated by the Gulf’s oil income — in the global financial system? On this episode, we speak to Ziad Daoud, chief emerging markets economist at Bloomberg Economics and a co-author of a new Bloomberg News Big Take about the UAE’s huge investment.

Source link

Related Articles

Leave a Reply

Your email address will not be published. Required fields are marked *

Back to top button


Get our latest downloads and information first. Complete the form below to subscribe to our weekly newsletter.

100% secure your website.