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Suez Canal Economic Zone: the Egyptian dream that could begin a renaissance

Hong Kong, Shenzhen, Singapore, Jebel Ali, Hamburg, Rotterdam, Tangier, and Panama are waterways that brought about major changes for their countries. However, the oldest waterway, the Suez Canal, has maintained its position as one of the world’s most important waterways since its opening on 17 November 1869. These other waterways around the world have managed …

Hisham Salah

External debt: a tricky, dangerous route towards reform

Egypt’s negotiations for loans from the International Monetary Fund, World Bank, and the African Development Bank would increase the country’s external debt to approximately $70bn. Yet, the government views the loans as a way for reforming poor economic conditions that have plagued the country since 2011, and a tool to attract foreign investment.   Essentially, …

Hisham Salah

Government to settle $318m worth of external debt

The Ministry of Finance in co-operation with the Central Bank have managed to allocate $318 million, which represents the value of public debt instalments owed by the government for bonds issued abroad in Egyptian pound  in 2007. A high-ranking source in the Ministry of Finance has affirmed the government’s commitment to the settlement of all instalments owed at …

Daily News Egypt

EU opens door to ‘debt relief’ for North African states

By Roddy Thomson / AFP BRUSSELS: European governments have opened the way for a radical offer of “debt relief” for Arab north African and Middle Eastern neighbors, EU and governmental sources told AFP late Wednesday. “Member states will examine possibilities of using debt relief as a signal of change” along the southern Mediterranean rim, conclusions drawn …


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