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Egypt
Stringent IMF loan terms put Sisi in the hot seat

Egyptian President Abdelfattah al-Sisi. © Florian Gaertner / DPA Picture-Alliance via AFP

The demands made by the International Monetary Fund in exchange for a $3bn loan have put the Egyptian leader in a tight spot. The reforms he has to carry out in return for the money will hurt the general population, the business community and the military. [...]

Published on 25/01/2023 at 06:00 GMT Reading time 3 minutes

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Finance

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Abdelfattah Al-Sisi
Anwar Sadat
Central Bank of Egypt
Emirates Investment Authority
General Intelligence Service
International Monetary Fund
Mohamed Anwar Sadat
Mostaqbal Watan
Mustafa Madbouly
Naguib Sawiris
Nassef Sawiris
National Service Projects Organization
New Administrative Capital
Orascom Construction
Osama Mounier Mohamed Rabie
Reform and Development Party
Samih Sawiris
Sovereign Fund of Egypt
Suez Canal Authority
Wataniya Petroleum

Egypt
Sisi turns to Gulf to ease external debt burden

The Egyptian president is negotiating to secure large foreign currency deposits from several Gulf states. Egypt's debt puts it on the back foot in its tug-of-war with the United States and Israel over the acceptance of Palestinian refugees from Gaza into Sinai.

Subscribers only Finance, Politics 01.11.2023

Egyptian President Abdel Fattah al-Sisi held a press conference after a meeting with French President Emmanuel Macron in Cairo, Egypt, 25 October 2023.

In Focus | Egypt
The rise of militia businessman Arjani

Ibrahim al-Arjani has rapidly risen to become one of the most powerful men in Egypt, from marshalling pro-government militias to fighting Islamists in his native North Sinai to expanding his business conglomerate's activities into the heart of the Nile Valley thanks to his proximity to the presidential Sisi clan.

Subscribers only Defence, Business 25.09.2023

Egypt
Military companies set to keep their tax breaks

The law recently approved by the Egyptian parliament to end tax exemptions for public and military companies should spare a large swathe of the armed forces' business activities. The new legislation is part of reforms demanded by the IMF.

Subscribers only Business 19.07.2023

Egypt
Saint-Gobain bets on revival of Egypt's construction sector

The French company has recently acquired a dry mortar factory in Egypt and is continuing to invest in the country despite the economic challenges.

Subscribers only Business 13.07.2023

Egypt
Army company privatisations plan meets resistance

The process of privatising 32 Egyptian public sector companies, two of them owned by the defence ministry, should have got under way in late April. Its very slow pace has raised doubts among foreign investors about the economic reforms planned by Moustafa Madbouli and his government.

Subscribers only Finance 17.05.2023

Egypt
Sudan war deals fresh blow to struggling Egyptian economy

The risk of disrupted food supplies from Sudan has sparked fears of further price hikes in Egypt, while Cairo's exports to its southern neighbour, its third-biggest market in Africa, may also be badly hit.

Subscribers only Business 08.05.2023

Inner circles | Egypt
Ayman Soliman and Mohamed Amin mastermind sovereign fund's Gulf strategy

The Sovereign Fund of Egypt is playing a leading role in trying to attract international investors to the country as it battles with a crippling debt crisis. Sisi's office is keeping a close eye on the team that runs the fund.

Subscribers only Politics, Business 05.05.2023

Egypt
Sisi seeks Chinese solution as IMF and creditors close in

Cairo is to raise capital on the Chinese markets as the IMF insists on conditions previously set for disbursing a second tranche of a loan approved last December. Beijing is already the country's fourth largest creditor.

Free access Infrastructure, Finance 20.04.2023

Egypt
French unis and business schools make major moves into Egypt's lucrative private education sector

New educational facilities worth tens of millions of euros are to open in the Egyptian capital. Paris's policy of promoting French language learning is facilitating this move in a growing sector.

Subscribers only Business 19.04.2023

In Focus | Egypt
Sisi's generals enjoy suite success from their moneymaking luxury hotels

With the Egyptian economy in crisis and the military apparatus tightening its grip, the country's generals are staking their claims on the lucrative high-end hotel sector. From building lavish establishments to signing international partnerships, the top brass fancy themselves as luxury and business tourism tycoons - and there appears little to stop them continuing.

Subscribers only Politics, Business 10.04.2023

Colonel Walid Sami Salama (left), General Sherif Salah el-Dine (center) and General Mohamed Amin (right).

Egypt
Sisi's economic ambiguity fuels Gamal Mubarak's presidential ambition

Egypt urgently needs foreign investment but President al-Sisi appears more focused on pleasing homegrown firms as next year's elections loom. Gamal Mubarak, the son of ousted president Hosni Mubarak, sees this as an opportunity to firm up his own presidential ambitions.

Subscribers only Politics, Business 22.02.2023

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Abdelfattah Al-Sisi
Anwar Sadat
Central Bank of Egypt
Emirates Investment Authority
General Intelligence Service
International Monetary Fund
Mohamed Anwar Sadat
Mostaqbal Watan
Mustafa Madbouly
Naguib Sawiris
Nassef Sawiris
National Service Projects Organization
New Administrative Capital
Orascom Construction
Osama Mounier Mohamed Rabie
Reform and Development Party
Samih Sawiris
Sovereign Fund of Egypt
Suez Canal Authority
Wataniya Petroleum

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Botswana, South Africa
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The secrets of Demex, the trader selling Russian oil in West Africa

Egypt
Stringent IMF loan terms put Sisi in the hot seat

This article may be accessed by subscribers

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create a free account

Set up email notifications for these topics

Egypt
Sisi turns to Gulf to ease external debt burden

In Focus | Egypt
The rise of militia businessman Arjani

Egypt
Military companies set to keep their tax breaks

Egypt
Saint-Gobain bets on revival of Egypt's construction sector

Egypt
Army company privatisations plan meets resistance

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Sudan war deals fresh blow to struggling Egyptian economy

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Ayman Soliman and Mohamed Amin mastermind sovereign fund's Gulf strategy

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Sisi seeks Chinese solution as IMF and creditors close in

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French unis and business schools make major moves into Egypt's lucrative private education sector

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Sisi's economic ambiguity fuels Gamal Mubarak's presidential ambition

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Emirati investments around Suez Canal ruffle generals' feathers

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Colas and Orascom bid for €1.7bn Alexandria subway facelift

Sudan
Al-Burhan's coup d'état comes at the worst time for Paris

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Africa Intelligence on social media

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About Africa Intelligence

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Indigo Publications' websites

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Egypt Stringent IMF loan terms put Sisi in the hot seat

This article may be accessed by subscribers

Do you want a free trial before subscribing?

Create your free account

create a free account

Set up email notifications for these topics

Egypt Sisi turns to Gulf to ease external debt burden

In Focus | Egypt The rise of militia businessman Arjani

Egypt Military companies set to keep their tax breaks

Egypt Saint-Gobain bets on revival of Egypt's construction sector

Egypt Army company privatisations plan meets resistance

Egypt Sudan war deals fresh blow to struggling Egyptian economy

Inner circles | Egypt Ayman Soliman and Mohamed Amin mastermind sovereign fund's Gulf strategy

Egypt Sisi seeks Chinese solution as IMF and creditors close in

Egypt French unis and business schools make major moves into Egypt's lucrative private education sector

In Focus | Egypt Sisi's generals enjoy suite success from their moneymaking luxury hotels

Egypt Sisi's economic ambiguity fuels Gamal Mubarak's presidential ambition

Egypt Cairo's first cybersecurity fair to provide open market for civil defence firms

Egypt Departments try to renegotiate on the quiet public contracts awarded in foreign currency

Egypt Sisi faces wave of resignations at top of intelligence services

Egypt Emirati investments around Suez Canal ruffle generals' feathers

Egypt Colas and Orascom bid for €1.7bn Alexandria subway facelift

Sudan Al-Burhan's coup d'état comes at the worst time for Paris

Set up email notifications for these topics

About Africa Intelligence

Subscription

Africa Intelligence on social media

Indigo Publications' websites

Botswana, South Africa
From Gaborone to Antwerp, is De Beers's empire on the rocks?

Mali, Senegal, Togo
The secrets of Demex, the trader selling Russian oil in West Africa

Egypt
Stringent IMF loan terms put Sisi in the hot seat

Egypt
Sisi turns to Gulf to ease external debt burden

In Focus | Egypt
The rise of militia businessman Arjani

Egypt
Military companies set to keep their tax breaks

Egypt
Saint-Gobain bets on revival of Egypt's construction sector

Egypt
Army company privatisations plan meets resistance

Egypt
Sudan war deals fresh blow to struggling Egyptian economy

Inner circles | Egypt
Ayman Soliman and Mohamed Amin mastermind sovereign fund's Gulf strategy

Egypt
Sisi seeks Chinese solution as IMF and creditors close in

Egypt
French unis and business schools make major moves into Egypt's lucrative private education sector

In Focus | Egypt
Sisi's generals enjoy suite success from their moneymaking luxury hotels

Egypt
Sisi's economic ambiguity fuels Gamal Mubarak's presidential ambition

Egypt
Cairo's first cybersecurity fair to provide open market for civil defence firms

Egypt
Departments try to renegotiate on the quiet public contracts awarded in foreign currency

Egypt
Sisi faces wave of resignations at top of intelligence services

Egypt
Emirati investments around Suez Canal ruffle generals' feathers

Egypt
Colas and Orascom bid for €1.7bn Alexandria subway facelift

Sudan
Al-Burhan's coup d'état comes at the worst time for Paris