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Egypt’s military economy under threat from the IMF

Less than a month after the Russian invasion of Ukraine, on 21 March 2022, faced with an exceptional rise in food and energy costs, Cairo’s Central Bank raised its base interest rate by 100 points, and devalued the Egyptian pound by some 15% after having spent several days wasting more …

Throwing Down the Gauntlet: What the IMF Can Do About Egypt’s Military Companies

Until recently, both the International Monetary Fund (IMF) and the World Bank were wholly reticent to say anything about the involvement of the Egyptian Armed Forces (EAF) and other military agencies in Egypt’s civilian economy. This is a longstanding problem. By turning a blind eye to the diversion of resources …

Rights groups call on IMF to link loan to Egypt to more social protection

Seven human rights organisations have called on the International Monetary Fund (IMF) to link the new loan being negotiated with Egypt to the government granting more economic and social rights to its people and strengthening judicial independence.