The tale of the paper tiger: only a few short years ago, financial analysts were predicting great things for Egypt, earmarking its economy as `an emerging tiger economy'. Unfortunately, things didn't work out that way. Andrew Hammond reports from Cairo on what went wrong.

Summary

---

Business & Finance

See the full content of this document

Extract

---

The tale of the paper tiger: only a few short years ago, financial analysts were predicting great things for Egypt, earmarking its economy as `an emerging tiger economy'. Unfortunately, things didn't work out that way. Andrew Hammond reports from Cairo on what went wrong.

In early 2000, Egypt was being pegged as the regional `one to watch'. The respected London financial analysts, ABN Amro, said in a special report that if the Egyptian economy performed as expected, the country would double its market capitalisation by the end of that year, adding between $7-20 billion to its value. Of course, `perform as expected' is the key phrase here. At the b...

See the full content of this document

---