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2011-06-26 Africa North
Egypt declines major bailout loans
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Posted by Fred 2011-06-26 00:00|| || Front Page|| [6 views ]  Top

#1 Quick, sack Geitner and put Samir Radwan in charge. This would have to be a world first, a Finance minister who doesn't need more money. Maybe drug test him first, though.
Posted by tipper 2011-06-26 00:54||   2011-06-26 00:54|| Front Page Top

#2 They're going to get 3 percent growth on what, exactly?

Annual population growth is around 2%. 3% isn't a big stretch. Egypt does some light manufacturing - a significant amount of clothing assembly is carried out there. Salaries are around 1/3 of China's, meaning that if they ever get their act together in terms of not screwing foreign investors, they could grow pretty rapidly just off that wage disparity.
Posted by Zhang Fei 2011-06-26 21:54||   2011-06-26 21:54|| Front Page Top

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