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Egypt dims lights to boost foreign reserves ...Qatar
An economic crisis spurred by the Ukraine war is casting darkness upon Egypt’s streets, as the government dims lights to free up energy for export and bolster hard currency reserves. Russia’s invasion of Ukraine had an immediate impact on Egypt, the world’s biggest wheat importer which has relied on the ex-Soviet states for over 80% of its grain. Egypt, which turned to the International Monetary Fund for a loan after the war erupted, is pumping more natural gas abroad to increase its foreign currency reserves — a move that has come in for criticism. And while the government announced electricity rationing this month, signs of wastage elicit scorn. “I see streetlights still working during da
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