Egyptian eruptions

No sooner than the dust had settled and the debris had been cleared from Tahrir Square, the media’s spotlight turned from Egypt to Libya.  Despite ongoing protests in Libya, Yemen and elsewhere, there is a growing sense that the Arab world’s spring of 2011 might turn out like the Prague Spring of 1968 – that this might not be the Arab world’s 1989 but rather another 1848.  Nevertheless, having sat atop North Africa’s largest economy for 30 years, the toppling of President Hosni Mubarak on 11 February was a seismic event that continues to cause shockwaves.  Existing investors will be well aware of them, but what factors should prospective investors in Egypt consider?  Trade disruption and its impact on economic and debt fundamentals will be considered, before an examination of the short-, medium- and long-term challenges.

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