BRICS: Egypt Officially Ditches US Dollar For Trade
watcher.guru
A newly welcomed BRICS nation, Egypt has officially ditched the US dollar for trade, opting to instead use local currencies.
  • sun_is_ra@sh.itjust.worksEnglish
    64·
    9 months ago

    They say they are ditching it but whether they will succeed is a different story.

    Egypt under hefty debt that she has to pay in USD.

    also Egypt’s problem is in lack of export due to significant increase in corruption, army competing with private sector, restrictions on importing raw materials required for manufacturing, among other things.

    Yes, Egypt has shortage in USD but also shortage in all foreign currencies. BRICS solves absolutely nothing

    Edit: spelling