Quotes from the news wire:
Inside Egypt, the regime is clearly conflicted, the military obviously has gained the most and so has the most to lose from a deal like this.
Is there a mechanism bailing Egypt out without Gulf money? Not a realistic one, they (Egypt) are really stuck, and functionally, this regime under Sisi could be responsible for severely weakening Egypt in a geopolitical sense because of its financial weakness.
The military obviously has gained the most and so has the most to lose from a deal like this, but also, Sisi at the end of the day needs to keep the backbone of his regime united behind him.
There is already concern in Egypt about the extent to which the state is basically being sold off (piece) by piece to the Gulf.
I imagine that’s what they are negotiating now, who is going to have to give up what, and where does the burden fall.
Twenty billion dollars is the equivalent of every penny Egypt has borrowed from the IMF since 2016, and it disappeared in weeks (last year).
Found on CNN 4 months ago
To raise your revenue by the margins (being seen by some state companies) I suspect would require a deliberate injection of cash or other help by the state, this indicates that the government is doubling down on this sort of regime-led capitalism beyond the security sector.
Found on Reuters 2 years ago
What were the three main pillars that he promised? Stability, economic growth and security and he has failed on all three counts, so they are doubling down... If they can get away with expanding their repression against high-level targets and keep people in line, why wouldn't they?
Nobody is going to twist Egypt's arm about this now. No one cares. They think it is the best they will get right now, another thing that helps them is that the population has had two uprisings, in their eyes anyway, and after both the situation did not improve. On the contrary, it deteriorated.
The policy of import substitution was popular during the period of decolonization ... It's one of those policies that looks good on paper but doesn't work, lots of things are imported because there is no alternative but also because they are cheaper than domestic alternatives. There are many imports poor people depend on. Even if in theory local production could pick up the slack it would take time and in the meantime we could see a sharp reduction in employment.
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