“Sisi is showing few signs of dismantling the military’s business interests, despite pressure from the IMF and Persian Gulf backers,” says Wall Street Journal. Under Egypt’s Abdel Fattah Al Sisi, a former general, the armed [ More … ]
The high licensing fees on businesses in Egypt may make the prospect of their full closure loom large in the horizon. More than two months ago, the government said owners of dozens of commercial and [ More … ]
Egypt needs to get more transparent about its debt, and that includes amounts owed by state-owned enterprises in an economy where the government plays too large a role, a senior World Bank official said, according [ More … ]
The Economist suggests that donors should not keep bailing out Egypt, a state that only enriches men in khaki, the military. “To the list of spectacular ruins across Egypt, you can now add its economy. [ More … ]
After months of punishing inflation and a plummeting currency, Egyptians are growing louder about the crisis. In exchange for a bailout, the I.M.F. is imposing stern conditions on the government. “Around the time Egypt’s currency [ More … ]
Debt-ridden Jordan is following Egypt’s lead by planning a new administrative capital in the desert near Amman while Jordanians are struggling in the kingdom’s wheezing economy. Jordan’s King Abdullah has recently told Jordanian ministers to [ More … ]
Egypt’s Abdel Fattah Al-Sisi has vowed to reduce the military’s undue influence over the country’s economy as part of a new $3 billion International Monetary Fund (IMF) bailout, reported the Financial Times, citing a recent [ More … ]
Egypt starts the new year with a disastrous economic environment and social tension, according to a recent report. “Public anger has been growing for months in Egypt over a severe dollar crunch and soaring food [ More … ]
Amid a major hard currency crisis in Egypt the North African country is suffering a massive backlog across the country’s ports, with goods worth $9.5 billion are still stuck there. The Egyptian ports have recently [ More … ]
The International Monetary Fund early Saturday approved a $3 billion loan for Egypt under a 46-month program. In a statement, the IMF said the arrangement under the Extended Fund Facility (EFF) includes the immediate disbursement [ More … ]
Under Sisi, Egypt’s Economy and Corruption Resemble Lebanon, states World Politics Review “When pursuing new research, academics occasionally stumble across half-forgotten projects that remind them of how distant the recent past can feel. In the [ More … ]
Egypt’s finances remain in a precarious state despite two major currency devaluations this year and a brand new $3 billion International Monetary Fund rescue package, economists say. With debt interest payments set to soak up [ More … ]
While world leaders are heading to Sharm El-Sheikh to attend the UN COP27, “Cairo is turning to the IMF as its economy falters”, states FP in a report. “Egypt’s currency hit record lows against the [ More … ]
The global crises, including the Covid-19 pandemic and the Russian war on Ukraine have magnified the fragility of the country’s state-driven economic model and forced it to take out new multilateral loans “When Egypt was [ More … ]
Egypt’s central bank governor resigned Wednesday as the Middle East’s most populous nation struggles to curb inflation triggered by Russia’s war in Ukraine, high oil prices and a drop in tourism. Egyptian Central Bank Governor [ More … ]
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