Home to one of the oldest civilisations in the world, spanning millennia, Egypt remains the most populous and one of the most influential countries in the Arab world. The wealth of the Nile and its fertile banks and delta, together with Egypt’s location at the confluence of Africa, Asia and Europe, have made the country a valuable prize for...
The national monetary policy has undergone a transformative process of evolution over the past decade, and has in recent years been compelled to accommodate both exogenous and domestic shocks of considerable scale. Prior to 2003, the monetary policy decisions of the Central Bank of Egypt (CBE) were carried out with two straightforward policy goals...
Over the past two years, a state of transition has become a more or less permanent feature of Egypt’s political scene. After 18 months, the 2011 uprising that led to the fall of former President Hosni Mubarak resulted in the election of a new president, Mohammed Morsi of the Freedom and Justice Party (FJP), and a new constitution for the country...
The usefulness of remittances to the Egyptian economy is something that has been noted by successive governments since the beginning of the nation’s history as a modern republic. During the 1960s, President Gamal Abdel Nasser famously looked to the Egyptian diaspora for valuable foreign currency, appealing to the national pride of Egyptians working...
While Egypt has a number of long-term assets – including a large and growing population, broad export profile, strong manufacturing base, natural resources and huge potential tourism revenues – the uncertainty over the country’s stability, economic indicators and broader policies has slowed growth and production over 2013 (see Economy chapter)....
The Mamluks, who descended from non-Arab slaves who were naturalised to serve and fight for ruling Arab dynasties, are revered as some of the greatest warriors the world has ever known. Although the word “mamluk” translates as “one who is owned”, the Mamluk soldiers proved otherwise, gaining a powerful military standing in various Muslim...
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