[Mohamed A. El-Erian] Reinvigorating Egypt’s dysfunctional economy
May 26, 2013
NEWPORT BEACH ― Some two years into Egypt’s grass-roots revolution, the country’s economy is in a worrisome downward spiral. A growing number of people, inside and outside of the country, are starting to blame the revolution itself for derailing an economy that was growing, reducing its external-debt burden, and maintaining a comfortable cushion of international reserves.Blaming the revolution is the wrong approach to Egypt’s current economic woes. Yet its appeal to some is understandable, given