This past April, during an event known as the Egyptian family iftar and in the presence of prominent opposition figures, President Abdel Fattah al-Sisi announced the launch of a national dialogue process and a “presidential pardon committee”, sparking hopes for much-needed political and economic reforms that could ease the repression …
The Egyptian presidency announced that President Abdel Fattah al-Sisi met on Tuesday, with officials of companies affiliated with the Egyptian Armed Forces, to discuss offering these companies on the stock exchange and market.
Egypt’s preliminary agreement with the International Monetary Fund to access $3bn in funding could help restore some investor confidence in the North African country, but real progress hinges on Cairo’s appetite to follow through with reform, analysts say.
Egypt’s President Abdel Fattah el-Sisi said on Wednesday that the military-owned company building the country’s new administrative capital wants to rent the government a district which would house the ministerial offices, for $212m a year.
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.
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.
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 …
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.
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 …
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.