GM suspends Egypt operations due to currency crisis
General Motors has suspended its operations temporarily in Egypt due a currency crisis, a company source told Reuters on Monday. "The entire sector has a currency crisis we can't make a car without some of the parts. We stopped production temporarily as of yesterday until we can clear the imports held up in customs," the source said. "There is still some leeway with the government and the banks to solve the issue." General Motors’ Egypt operation includes assembling trucks and cars. It makes 25% of Egypt's vehicles. (Reuters)
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