Debt-addiction: Egypt gets the second tranche of a $1.2 billion Japanese loan
On Tuesday, the Japan International Cooperation Agency and the Egyptian government signed an agreement to disburse the second tranche, $301 million, of a $1.2 billion Japanese loan. The loan covers the construction costs of the first phase of Line 4…
Civil Democratic Movement launches campaign “to defend Suez Canal”
On Sunday, the Civil Democratic Movement announced the launch of a campaign “to defend the Suez Canal,” explaining, in a statement, that the primary goal of the campaign is to withdraw the Suez Canal Fund draft law that was approved…
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…
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…
Recent Comments