This commentary explores how the financial clout of the IMF in the context of Egypt’s fiscal needs might generate a narrow pathway for bringing incremental reforms about that improve governance and remain feasible within the country’s authoritarian parameters of rule.
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Once-mighty Egypt is now hostage to the IMF & Gulf debtors
From the minute I stepped outside Cairo International Airport heading to downtown Cairo to the moment I left the country, I was inundated with cynical political commentary on Egypt’s economic crisis and the deteriorated pound.
Egypt Indicates Desire to Join BRICS, Russian Ambassador Says
Egypt has joined the list of countries that aspire to become BRICS members, Russian Ambassador in Egypt Georgiy Borisenko told Sputnik.
How IMF loans keep Sisi afloat as Egypt sinks deeper into debt
Egypt has agreed three bailouts with the International Monetary Fund (IMF) under the government of President Abdel Fattah el-Sisi, in office since 2014. It is currently the second biggest borrower from the IMF after Argentina.
Egypt green-lights sweeping privatization strategy following IMF agreement
After more than half a year in the making, Egypt’s President Abdel Fattah al-Sisi finally approved at the end of December a strategic program drawn up by the government that sets out the economic sectors from which the state plans to withdraw in the coming years, and those in which …
To Receive an IMF Loan, Egypt Pledges to End the Unique Status of Its Military Companies
The International Monetary Fund (IMF) released a Staff Report on January 10, 2023, detailing the commitments made by the Egyptian government in return for the award of about $3 billion in new lending, Egypt’s fourth loan since 2016. Although the initial agreement was announced on October 27, 2022, it has …
Egypt: Sisi vows to curb army influence in new IMF bailout
Egypt’s President 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. The package of measures that will be introduced will address Cairo’s economic woes including a foreign currency crisis, a weakening pound …
Gulf backing ‘critical’ to Egypt’s economic recovery, IMF report warns
A new IMF report offers a glimpse into what is expected of the Arab world’s most populous country as it copes with a foreign currency crunch and spiraling inflation.
Egypt from space: Satellite views of the pyramids, Nile, Cairo and Suez
Space photography from Nasa and the European Space Agency reveals Egypt in all its glory
World Bank approves $500 million to Egypt
The World Bank’s executive board has approved $500 million in development financing for Egypt to expand its social safety net and protection programme in the face of global economic pressures filtering through to the country’s economy, the international cooperation minister said on Friday.