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Libyans swim in the Mediterranean sea in the capital Tripoli on August 3, 2017. MAHMUD TURKIA/AFP/Getty Images
Inflation and Currency Devaluation Present Challenges to Egyptian Businesses
Cairo’s decision eight months ago to float the pound in exchange for a $12 billion loan from the IMF has presented a series of challenges to Egyptian businesses. Though the moves effectively eliminated the black market for dollars being used to pay for imports a year ago, the soaring costs of energy, transport and packaging materials are keeping businesses from expanding. Some manufacturers who rely on imported goods for business have seen their working capital decrease by nearly half, as inflation has risen to around 30 percent.
Morocco’s King Pardons Protesters
King Mohammed VI of Morocco pardoned dozens arrested in protests in the northern regions, blaming the fracas on the failure of local officials to advance needed development projects. In a speech commemorating the 18th anniversary of his ascension to the throne, Mohammed VI said, “If the King of Morocco is not convinced by the way political activity is conducted and if he does not trust a number of politicians, what are the citizens left with?”
Tunisia’s New Law Aims to End Violence Against Women
Tunisia’s parliament approved a new law against domestic abuse, targeting “any physical, moral, sexual or economic aggression” against Tunisian women. The law strikes down a controversial law that allowed rapists to escape punishment if they marry their victims. The new law also targets domestic violence, and is the first in Tunisia’s history to do so. Many women are optimistic about this new law, as reports from 2010 revealed a staggering 47 percent of Tunisian women had experienced domestic violence.
Tunisia’s Labor Union Meets With Syria’s Bashar al-Assad
A delegation from Tunisia’s labor union (UGTT) visited Syrian President Bashar al-Assad on July 29 in Damascus to show their support for Assad’s “counter-terror” efforts in Syria, sparking controversy. The 21 UGTT leaders, led by General Secretary Bouali M’Barki, claimed that the purpose of the meeting was to show solidarity with the Syrian people in their “war against terrorism.” The meeting spurred outrage from many Tunisians, who quickly took to social media to criticize the UGTT. Tunisia severed ties with Syria in 2012 following demonstrations against the Assad government and the subsequent violent crackdown. More than 3,000 Tunisians have reportedly left the country to join the Islamic State (IS) group in Iraq and Syria, the largest number from any single country.
—Kelly Fleming
