Some businesses in Egypt try to keep shelves stocked with whatever is left in the warehouse: selling last season’s clothes instead of the newest threads, for example. Others have nothing to offer
Save time by listening to our audio articles as you multitaskShortages have been an unhappy reality for consumers around the world since 2020. Tampons have been scarce in America; France has run low on mustard. In the Middle East, though, empty shelves are not merely the result of supply-chain kinks. They are also signs of indebted, cash-strapped governments struggling to pay for basic imports.
His explanation is facile. Some goods are not available at all, even on the black market. Tunisia has $8bn in foreign reserves and $35bn of debt, mostly to foreign creditors. That does not leave much to pay for imports. Shipments are stuck at ports because distributors are unable to pay for them. Since January foreign reserves have fallen from $41bn to $33bn . The government is keen to husband its stash of hard currency. In April it banned hundreds of firms from importing goods. The official explanation was mundane: companies supposedly failed to file required paperwork. In practice, though, the decision imposed a sort of autarky, cutting imports of non-essential items. The central bank also imposed its own restrictions on imports.
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