High levels of debt and changing bailout strategies are reshaping the geopolitical landscape of the Middle East and North Africa. Countries exporting hydrocarbons are gaining prominence over the highly indebted nations of Egypt, Jordan, Lebanon, and Tunisia. This is exacerbating the economic marginalization of low- and middle-income countries, forcing them …
Egypt has assumed the co-leadership of an influential global body shaping counter-terrorism policies despite condemnation of its appointment over Cairo’s “abuse of international counterterrorism norms”.
On March 9, 2023, official statistics on the level of inflation were published by the Egyptian government. These official figures reveal a sharp increase in inflation, which reached a record high of 31.9 percent for annual headline inflation, and a whopping 40.26 percent for core inflation.
Three months after agreeing to adopt a “flexible” exchange rate, Egypt’s currency continues to be overvalued and primed for a further devaluation.
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.
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 has joined the list of countries that aspire to become BRICS members, Russian Ambassador in Egypt Georgiy Borisenko told Sputnik.
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.
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 …
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 …