Saturday , 2 July 2022

Blog Archives

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 …

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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 …

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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.

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US aid to Egypt and the wider failures of American security assistance

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 …

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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.

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