Russia’s orthodox economic approach has helped it avoid
economic disaster:
“Moscow made the
tough decision to stop draining its foreign exchange reserves to defend the
rouble and allowed the currency to fall sharply. That led to a rise in
inflation, which is never popular with the masses, but in retrospect this was a
smart call.”
Egypt is still struggling to stabilize its currency:
“The Egyptian pound
fell Monday to its lowest-ever valuation on the unofficial black market amid
increasing bets that a weaker economy will force Cairo to devalue its local
currency again.”