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| Egypt is the second-largest
recipient of U.S. foreign aid (Israel is first) --
its economy and infrastructure are bolstered by $2.1
billion in aid each year. The country experienced
an economic surge between 1995 and 2000, but growth
slowed after that. Then in 2002, the value of the
Egyptian pound was uncoupled from the U.S. dollar.
For someone with U.S. dollars, that means prices have
fallen. For those stuck with Egyptian pounds, it's
a different matter. Wages remain flat and a typical
worker earns as little as US$40 a month. |
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