Iran War Tests Egypt’s Resilience After Bond Outflows Surge

Egyptian assets have been among the Middle East’s worst hit by the Iran war, a major stress test for grueling International Monetary Fund-backed reforms meant to protect against future crises.

Although far from the missiles striking the Gulf, billions of dollars in portfolio investment exited Egypt, bonds fell and the currency dropped to a record low. Soaring energy prices are piling pressure on the budget and threaten higher bills for a population already harried by years of elevated inflation.