Egyptian President Mohamed Morsi is shifting his focus to Egypt’s economy, according to a speech the Muslim Brotherhood-linked President gave in the aftermath of the country’s constitutional referendum. Egyptians affirmed the constitutional draft last weekend, roughly a month after it was hastily approved by the country’s Islamist-dominated constitutional assembly, and in the face of opposition from women, religious minorities, and others. Political unrest has battered Egypt’s critical tourism industry, and after losing more than half of its foreign-currency reserves, Egypt is approaching the IMF minimum of three months of total foreign reserves. In a bid to halt capital flight, Cairo has banned citizens from taking more than $10,000 out of the country. It is unclear whether Morsi’s deliberate effort to pivot toward economic restabilization will be sufficient to either halt capital flight or restore political legitimacy.

[Photo: Jonathan Rashad / Wiki Commons]