Egyptian President Sisi is showing few signs of dismantling the military’s business interests, despite pressure from the IMF and Persian Gulf backers

The Egyptian government announced that two military-affiliated companies operating in the local market will be listed on Wednesday, while an initial public offering (IPO) advisor had been contracted to facilitate the necessary data for potential investors.

US Defense Secretary Lloyd Austin and Egyptian President Abdel Fattah al-Sisi reaffirmed their countries’ close military ties Wednesday, Sisi’s office said, during the Cairo leg of Austin’s regional tour.

The new US$3 billion loan agreement between Egypt and the International Monetary Fund (IMF) has left the economic rights of millions of Egyptians unprotected, Human Rights Watch (HRW) and Democracy in the Arab World (DAWN) said in a joint report on Tuesday.

Egyptian President Abdel Fattah al-Sisi has issued a decree to allocate desert lands with a depth of two kilometers on both sides of 31 new roads for the benefit of the Armed Forces.

India and Egypt will seek to deepen military cooperation, including between their defence industries, India’s foreign secretary said on Wednesday.

North Korea has sold weapons to a number of countries in the Middle East over the decades, and analysts say Pyongyang remains a significant weapons supplier to regional countries – particularly Iran, non-state actors, and, at times, even US allies.

Turkey, Egypt and Iran have the three strongest militaries across the Middle East and North Africa region, according to Global Fire Power’s 2023 Military Strength Rankings announced this week.

The Egyptian president is due to visit New Delhi at the end of January. The visit, which comes after the signing of a series of new partnerships between Egypt and India, could produce more new announcements.

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 …