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Egypt

Why Egypt Could Be In The Path Of Turkey's Currency Crisis

Egypt’s Finance Minister says the country is actually benefiting from the Turkish crisis, but so-called 'hot money' can burn long-term prospects.

Cairo street scene
Cairo street scene
Waad Ahmed

CAIRO — Over the past few weeks, the United States doubled tariffs on Turkish imports of aluminum and steel, sending the Turkish lira plunging to record lows. Turkey's central bank took certain measures — including cutting reserve requirement ratios to ease liquidity — while holding interest rates steady. The lira recovered slightly, and Turkey announced taxes on US imports of rice, alcohol and cars. Two majors credit agencies downgraded Turkey's credit rating. The lira continued to fluctuate in a worrisome international development for emerging markets worldwide, markets already jittery about the strengthening US dollar.

The world asks, will these emerging markets be hit by a contagion?

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Coronavirus

The Main COVID Risk Now: Long COVID

Death rates are down, masks are off, but many who have been infected by COVID have still not recovered. Long COVID continues to be hard to diagnose and treatments are still in the developmental stage.

Long COVID feels like a never-ending nightmare for those who suffer from it.

Jessica Berthereau

PARIS — The medical examination took longer than expected in the Parc de Castelnau-le-Lez clinic, near the southern French city of Montpellier. Jocelyne had come to see a specialist for long COVID-19, and exits the appointment slowly with help from her son. The meeting lasted more than an hour, twice as long as planned.

“I’m a fighter, you know, I’ve done a lot of things in my life, I’ve been around the world twice… I’m not saying this to brag, but to tell you my background," says the 40-year-old. "These days, I’m exhausted, I’m not hungry, I no longer drive, I can’t work anymore, I have restless legs syndrome.” She pauses before adding sadly: “I can’t read anymore either.”

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Central to the tragic absurdity of this war is the question of language. Vladimir Putin has repeated that protecting ethnic Russians and the Russian-speaking populations of Ukraine was a driving motivation for his invasion.

Yet one month on, a quick look at the map shows that many of the worst-hit cities are those where Russian is the predominant language: Kharkiv, Odesa, Kherson.

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