Sunday, June 08, 2008

More food riots

Thousands of demonstrators clashed with police in Egypt on Saturday over food rations. Talk about "reforming" the subsidies program started last December and the government seems to be going ahead with it. This government is walking on a tight rope while trying to juggle the worst food crisis in a generation, stagnant wages, unemployment, rising global food prices, rampant corruption, and a quickly advancing inflation rate. Reaching a sustainable recovery that will make life bearable for the poor (17% of the population) will not be easy.



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