EGYPT
A credit analysis
Pieter Paul Lamers April 2002
Nyenrode University IMMBA 3
Introduction
In this paper an overview will given of the background of Egypt as a nation. In chapter 1 the history and political situation will be viewed. In chapter 2 most attention will be paid to the economic situation. Chapter 3 provides information on Geography and the people; further information on communications, transportation and the military will be provided in Appendixes . Chapter 4 will focus on the effects of September 11th for Egypt and the Middle East.
1 History and political situation.
1.1 Background
Factsheet
POPULATION 65.3m (2001)
POPULATION GROWTH 1.95% (average, 1997-2001)
LAND AREA 1m sq km
FISCAL YEAR Starts July 1st
CURRENCY
(EGYPTIAN POUND (EP) EP3.96/ US$1
GDP
(at market exchange rate) EP336.1bn US$85bn
GDP GROWTH 4.6% (average, 1996/97-2000/01)(a); 2.5% (
GDP PER HEAD
(at market exchange rate) US$1,298 (2000/01, US$3,540 (2000/01,
INFLATION 3.4%
Italiano: Il presidente egiziano Hosni Mubarak dur...
English: President George W. Bush and Egyptian Pre...
English: CAIRO. With President of Egypt Hosni Muba...(average, 1997-2001)
2.2% (2001,average)
Nominally independent from the UK in 1922, Egypt acquired full sovereignty following World War II. The former name was: United Arab Republic (with Syria). The completion of the Aswan High Dam in 1971 and the resultant Lake Nasser have altered the time-honored place of the Nile river in the agriculture and ecology of Egypt. A rapidly growing population (the largest in the Arab world), limited arable land, and dependence on the Nile all continue to overtax resources and stress society. The government has struggled to ready the economy for the new millennium through economic reform and massive investment in communications and physical infrastructure.
In 1952 an army coup brought an end to monarchy in Egypt. Under Colonel Gamal Abdel Nasser, Egypt pursued radical nationalist policies. Under Anwar Sadat, president from 1970 to 1981, Egypt's political stance became more Western-leaning and its economic policies more liberal. Sadat's...