March 26, 2023
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Homeeconomy

economy

Egypt Latest News

Egypt: The army pressured to loosen its grip on economy, WSJ

March 22, 2023 MEO Staff

“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 … ]

Egypt Latest News

Egypt: The government’s economic policy discourages local businesses

March 3, 2023 MEO Staff

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 Latest News

World Bank urges Egypt ‘to loosen state grip and come clean on debt’

February 14, 2023 MEO Staff

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 … ]

Egypt Latest News

‘To save Egypt’s economy, get the army out of it’: The Economist

January 28, 2023 MEO Staff

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 … ]

Egypt Latest News

Egypt: ‘Inflation is so high that eggs are a luxury’, says NYT

January 25, 2023 MEO Staff

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 … ]

Egypt Latest News

In Egypt’s footsteps, debt-ridden Jordan to build a new administrative capital in the desert

January 12, 2023 MEO Staff

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 Latest News

Egypt: Sisi vows to curb army’s outsized role in economy, report

January 11, 2023 MEO Staff

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 Latest News

Egypt: ‘Disastrous economic environment and social tension’ with advent of 2023

January 8, 2023 MEO Staff

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 … ]

Egypt Latest News

Egypt: Economy hit by a ‘catastrophic’ foreign currency crisis

January 2, 2023 MEO Staff

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 … ]

Egypt Latest News

IMF approves a $3-billion loan for Egypt to support its ailing economy

December 17, 2022 MEO Staff

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 … ]

Egypt Latest News

WPR: ‘Egypt’s Sisi Is Sitting on a Powder Keg’

December 10, 2022 MEO Staff

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 … ]

Analysis

“Egypt is not out of the woods after IMF rescue deal”, analysis

November 27, 2022 MEO Staff

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 … ]

Egypt Latest News

Egypt: What is behind the country’s economic slide? – FP

November 5, 2022 MEO Staff

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 … ]

Column

Amid Egypt’s financial woes, will Sisi restrict the army’s dominant role in economy?

November 3, 2022 MEO Staff

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 Latest News

Egypt: Central Bank Governor Resigns Amid Mounting Economic Woes

August 17, 2022 MEO Staff

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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Latest

Egypt: Sisi is wasting billions of dollars while Egyptians are starving, Israeli newspaper

Egypt Latest News
March 25, 2023

Egypt: Amid financial crisis, IMF prepares 1st. review, World Bank approves $7bln to the country

Egypt Latest News
March 24, 2023

Egypt: Rights Watchdog calls for reintegration of released political prisoners

Egypt Latest News
March 23, 2023

Egypt: The army pressured to loosen its grip on economy, WSJ

Egypt Latest News
March 22, 2023

Egypt: Amid rising abuses in current prisons, interior ministry to operate 3 new ones

Egypt Latest News
March 21, 2023
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