Month: April 2023

IMF stresses the complete liberation of the Egyptian pound

On Thursday, the Managing Director of the International Monetary Fund, Kristalina Georgieva, said that the financing program agreed upon by the significant financial agency with Egypt is based on three main determinants, which are the liberation of the local currency…

Egypt in critical status: Between Emirati pressure and the alliance with Sudanese military

After months of tensions, armed conflict erupted between the Sudanese Armed Forces and the Rapid Support Forces, an official militia formed in 2013. Disputes started last December after the Framework Agreement between the Sudanese military and the Freedom and Change…

The Egyptian opposition sets 15 conditions to ensure free and fair presidential elections

On Wednesday, the opposition Civil Democratic Movement in Egypt issued a statement putting forward conditions that must be met for free and fair presidential elections, the results of which reflect the valid will of the voters, as it described it….

Debt Addiction: Egypt seeks higher credit ceiling from the ITFC

On Thursday, Egyptian President Abdel Fattah El-Sisi agreed to amend the agreement concluded in 2018 between the Egyptian government and the International Islamic Trade Finance Corporation so that the potential credit ceiling for Egypt would be $6 billion instead of…

Militarizing the state is another face of the corruption coin

The Central Auditing Organization, one of the essential oversight bodies in Egypt, revealed legal and financial irregularities in the Prime Minister’s decision to appoint Major General Engineer Ehab Khedr as head of the National Authority for National Organization for Potable…

CIA leaks about Egyptian arms supply to Russia reduce Sisi’s credit in Washington

According to the Washington Post, a leaked U.S. intelligence document claimed that Egyptian President Abdel Fattah El-Sisi ordered the production of up to 40,000 missiles to be secretly shipped to Russia, which is engaged in a fierce war against Ukraine….

IMF lowers forecast for Egyptian economy growth in 2023 to 3.7%

On Tuesday, the International Monetary Fund issued a report in which it again lowered its forecast for the growth of the Egyptian economy in the current fiscal year to 3.7%. Last year, the IMF expected the Egyptian economy to grow…

Egypt is still depending on T-bills to fund the critical financing gap

On Tuesday, Reuters said that sales of Egyptian treasury bills for periods of 273 and 91 days rose as the Egyptian Ministry of Finance decided to pay higher returns to partially reflect a 200 basis point increase in overnight interest…

Lack of fodder escalates crisis in the poultry industry

On Sunday, the vice president of the General Federation of Poultry Producers, Tharwat Al-Zeini, said that the crisis of raw materials shortage in the poultry sector is worsening daily. Al-Zaini added that the crisis caused a massive price rise, as…

Well-known doctor detained for criticizing Abdel Fattah al-Sisi

Hani Suleiman, a doctor and lecturer, was arrested for 15 days by the Egyptian State Security Prosecution after they accused him of distributing false information and associating with a terrorist organization. On March 27, security personnel arrested Suleiman after he…