Speculation is mounting that Egypt may bring forward its presidential election, which would go some way towards explaining policy paralysis around the pound. If this persists and a de facto peg is maintained, it risks a more severe crisis in the future. Elsewhere, some governments in the Gulf are taking on debt despite the rise in oil prices as they seek to build up buffers now to get ready for a future of lower oil prices. Finally, the IMF will lend $1.3bn to Morocco to tackle climate change and build resilience to natural disasters, which will allay fears of external strains following the recent earthquake.
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