Egypt defers payments for wheat imports amid dollar crunch

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Egypt has deferred payments for its large wheat purchases, in some cases by months, according to a government official and traders, as the country grapples with a shortage of hard currency. Egypt is one of the world’s biggest wheat importers and uses the purchases to make heavily subsidised bread, a politically sensitive benefit available to tens of millions of people. Most deferred payment cargoes have been shipped and unloaded without interruption so far and Egypt’s state wheat reserves used to make subsidised bread have not been impacted. Following the war in Ukraine, Egypt now depends most…

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