To devalue, or not to devalue, that is definitely “not” the question
If Hamlet were to have ever lived in Egypt, he would have opened Act 3, Scene 1 of Shakespeare’s play “Hamlet” with a statement different from the well-known “to be, or not to be, that is the question.” Back then in the play, Hamlet was contemplating death and suicide, comparing it to the pain and unfairness of life.
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Independent Board Member
1 年We are not in a position to devalue and we are not in a position to comply with the terms that we agreed to pursue a few months ago with the IMF. What we need to do now is to shrink, reorganise and then come again prepared with multi plans to deal with the various challenges we are facing today or may face in the future. We need to learn the lesson and emerge independently. We cannot continue to depend on our Arab brothers support, or else, forever. We need to regain what we lost and get back strong. We are good people in a good nation, we deserve better and we can do well with better planning. "Regain Confidence" is the word....
Fixed Income Syndicate at ADCB
1 年Without serious steps towards private sector empowerment, I don’t see any hope for a recovery. But the devaluation or actually a true free float is a must to ensure that imported goods are not subsidised through an artificial exchange rate.
Fx Trainer and advisor, Coaching
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Presales Consultant, Solution Architect, MBA, ITIL v4 Managing Professional
1 年what worries me is the flexibility for legislative reform that accompanies the "walk the talk" approach the government would undertake- change needs to be nimble. thanks for the insight
Certified KPI Professional | M.Sc | Data Storyteller | Dashboard Analyst |Administrative Man | EU Projects Specialist | Academic Researcher |
1 年Thanks for sharing