Egypt has not yet taken action to devalue the EGP, months after CBE Governor Tarek Amer hinted it would, Patrick Werr writes for The National. Keeping the EGP’s value “inflated” ensures the parallel market is thriving as the gap between the official and parallel market rates is wider, making the returns on the trade more lucrative. In addition, the delay is creating a disincentive for investors to enter the Egyptian market right now as they fear they could be hit with a 20-30% devaluation overnight. Werr says “there is one silver lining to this otherwise dismal economic cloud. Businessmen say there is such a pent-up demand to invest in Egypt, that should the government ever get around to devaluing the currency, investments should surge.”