One new pound is equal to 25 dollars. An expert proposes issuing a new currency to solve the US currency shortage crisis

Economist Sherif Delawar said Egypt is not facing a crisis in its economic fundamentals, adding that the current crisis is entirely represented by the scarcity of hard currency, especially the US dollar.

Delawar added in statements to Al-Sharq TV that one of the solutions facing the crisis of foreign currency scarcity in Egypt is the so-called “changing the currency”, explaining that the government, through the Central Bank , can issue the so-called new currency. lb. It is equal to 100 pounds of current currency.

He also continued: “The new pound could be equal to 4 US dollars, and therefore the new 100 pounds is equal to 25 US dollars, which is the real value of the Egyptian currency compared to its US counterpart,” emphasizing that what is happening This is not the real situation of the Egyptian economy.

On the other hand, Delawar said that the solution to Egypt’s crisis currently does not consist in selling government-owned companies, or shares thereof, or allowing the entry of more foreign companies, adding that a large number of countries in the world has done so. that, but now they live in ruins.

He added that the crisis now facing the world economy has made everyone suffer except those countries that have a surplus of oil or natural gas, indicating that this suffering is a direct consequence of following neoliberal policies in the economy, whereby ‘finances’ are placed above priority. economy and real production, and work to end the situation that has existed since the 1950s and 1960s, based on industrial and food production, on which the economies of Europe and America are built.

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