Egyptian pound tumbles amid Ukraine war shocks (National Interest)  

National Interest (Egypt) published an article about how the ongoing conflict in Ukraine has caused Western financiers to scale back their investments in Egypt, removing billions of dollars from the Egyptian economy and leading to a significant decrease in the Egyptian pound, the country’s currency. Egypt is the third-most populous country in Africa and is the world’s largest importer of wheat. Cairo has historically sourced most of its wheat from Russia and a smaller amount from Ukraine, and the disruption to Russian supplies from the war and subsequent sanctions regime has doubled the annual cost of Egypt’s imports to $5.7 billion, according to IFPRI (see blog post, The Russia-Ukraine crisis poses a serious food security threat for Egypt).