Egypt expected to pay $42.3 billion for external debt in the next year
On Monday, the World Bank issued a report on the financial situation in Egypt, documenting the continued rise in debt instalments, expecting that Egypt will pay about $42.3 billion in the next fiscal year in the form of external debt…
The World Bank approves $500 million loan for Egypt
The Minister of International Cooperation, Rania Al-Mashat, has said that the World Bank has approved new financing for Egypt, amounting to 500 million dollars, to support the country’s efforts to expand social protection networks. Al-Mashat’s statement added that the loan…
Central Bank of Egypt to sell $850 million-worth treasury bills
On Tuesday, the Central Bank of Egypt said it would sell $850 million in dollar treasury bills in an auction on January 2 to diversify sources of foreign exchange. Since last March, the American dollar has risen against the Egyptian…
48 deaths in 2022: Medical negligence still devours political detainees in Egypt
Egyptian human rights organizations have documented the death of two political detainees during the past two days due to medical negligence and lack of health care, bringing the number of deaths inside the prisons of Abdel Fattah El-Sisi during 2022…
Suez Canal Fund: Opening the door for offering Suez Canal to the Gulf
Two weeks ago, the IMF Executive Board approved a 46-month $3 billion loan to Egypt under Extended Fund Facility arrangement. Along with the loan, the IMF promised to catalyze another $14 billion in financing to the distressed Egyptian economy through…
The Guardian: Egyptians face peril at sea in the dangerous new exodus to Europe
The Guardian published a report that said thousands of Egyptians are risking drowning in the Mediterranean in a new mass exodus fraught with dangers towards Europe. The report, written by the newspaper’s correspondent in Istanbul, Ruth Michaelson, explained that poverty…
Fathi El Nagdy: Fourth Egyptian detainee reported dead this week
According to rights organizations, a fourth Egyptian detainee passed away this week. According to the El-Shehab Center for Human Rights and the Egyptian Network for Human Rights Information, Fathi El-Nagdy Salem, 59, passed away on Sunday in the Zagazig General…
Ministry of Supply raises prices of food commodities
On Thursday, the Ministry of Supply and Internal Trade increased the prices of food commodities, including sugar, rice, oil and flour. Sugar will be sold to ration card holders at 14 pounds per kilo instead of 10.5 pounds, an 800-ml…
W.S.J.: Egypt is Spending Billions on a New Capital that Egyptians May Not Visit
“In a desert plain 40 miles east of central Cairo, a sprawling new capital city is taking shape, with skyscrapers, luxury residences and pedestrian malls representing President Abdel Fattah Al Sisi‘s vision of a modern Egypt, fueled by billions of…
Debt addiction: Egypt exempts German bank from taxes to take EUR 15 million loan
On Thursday, President Abdel Fattah El-Sisi approved a German loan of 15 million euros in exchange for a tax exemption for the KfW Development Bank. According to the decision, the Egyptian government will exempt the German bank from direct taxes…
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