Egyptian President Abdel Fattah al-Sisi doubled down on his economic reform program during a Thursday meeting with Prime Minister Sherif Ismail and the governor of Egypt’s Central Bank, Tarek Amer. Presidential spokesman Bassam Radi said Sisi called for curbing public debt and increasing cash reserves. The president also recommended an initiative to encourage small and medium businesses across Egypt to curtail unemployment and boost exports. Despite unpopular subsidy cuts, the International Monetary Fund is pushing economic reforms as part of a loan program for the cash-strapped country. Read More
Sisi pushes unpopular economic reforms under IMF pressure Egyptian President Abdel Fattah al-Sisi doubled down on his economic reform program during a Thursday meeting with Prime Minister Sherif Ismail and the governor of Egypt’s Central Bank, Tarek Amer. Presidential spokesman Bassam Radi said Sisi called for curbing public debt and increasing cash reserves. The president also recommended an initiative to encourage small and medium businesses across Egypt to curtail unemployment and boost exports. Despite unpopular subsidy cuts, the International Monetary Fund is pushing economic reforms as part of a loan program for the cash-strapped country. Read More Mohmoud Farouk: For years, Egypt, Sudan, and Ethiopia have been facing a regional problem that needs an international mediator. [...] The absence of the United States will not just make it easier for other players like Russia to win another international battle in expanding its presence and power in the Mideast and Africa, but will also jeopardize international trade significantly -- and the U.S. could find itself in the middle of a war between its allies. - Washington Institute
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