Prime Minister Mostafa Madbouly asserted on Monday the importance of service and development projects, carried out by the Engineering Authority of the Armed Forces in all governorates.Read More »
On March 21, 2021, the Egyptian Central Bank oversaw the devaluation of the pound, which subsequently dropped in value by approximately 14 percent. The following day the pound would drop by an additional percentage point amid speculation that the government was preparing to ask for another IMF loan.Read More »
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 …Read More »
Egypt intends to list military-owned companies on the stock market before the end of 2022, as it grapples with the economic impact of Russia’s invasion of Ukraine.Read More »
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 …Read More »
Dismantling the Officers’ Republic: For Egypt to deliver on its economic projects, the tentacles of military retirees in the state bureaucracy must be cut.
Egyptian President Abdel-Fattah al-Sisi has repeatedly exhorted the Egyptian private sector to partner with state agencies in financing and implementing his ambitious investment and development programs. But exhortation has shifted of late to frank pleading.Read More »
When the top US military commander in the Middle East, General Frank McKenzie, the head of US Central Command, visited Egypt two days ago, he had two main messages. The first was that the Biden administration’s decision to withhold $130 million from the annual $1.3 billion in military aid to …Read More »
A top US general emphasised “very robust” military assistance to Egypt as he flew into Cairo on Wednesday in the wake of a decision by President Joe Biden administration’s to cut $130 million in military aid to the country over human rights concerns.Read More »
Egyptian President Abdel Fattah al-Sisi issued a decree Jan. 25, handing over ownership of 37 islands to the Egyptian armed forces. The move includes 36 islands in the Nile River and one island off the Mediterranean coast.Read More »
A Road to Reform?… Three targeted recommendations would help transform the military economy in Egypt.
The role of military agencies in Egypt’s economy has received growing attention, in parallel with its dramatic expansion in scale and scope since the armed forces took power in July 2013, and especially since Abdel-Fattah al-Sisi became president the following year.Read More »