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Egypt’s biggest oil debts

By Farah Halime, Rebel Economy   Egypt’s state oil company, the Egyptian General Petroleum Corporation, is in big trouble.  It has racked up billions of dollars of debt in the last decade with some estimating its dues to banks and oil companies is as high as $20 billion. The magnitude of EGPC’s debts is such …

Daily News Egypt

The Egypt-IMF loan negotiation: The soap opera continues

Watching Egypt’s negotiation with the IMF for a proposed $4.8bn loan has been like watching a daytime soap opera. New characters are added to the main plot while old characters fade into the background, but the storyline remains largely unchanged. Every episode introduces a bit of new drama with no resolution of the main conflicts …

Iris Boutros

Queues for fuel cause mayhem

The same day in Menufiya, a policeman was injured after residents blocked the Cairo-Alexandria road, in protest against the failure to secure fuel quotas which were promised by the governor.

Nada Badawi

In search of real reform

Despite the growing crisis, Egypt may be better resisting the temptation to do too much too soon In the discussion over the worsening economic crisis facing Egypt, there has been at times an implicit attitude towards Egypt’s future: the country needs only to get back on the horse. A few decisive moves to reduce the …

Rasheed Hammouda

Egypt: Too big to bail!

An interesting assumption is continuously being adopted by many of Egypt’s intelligentsia as well as political analysts: “Egypt is too big to fail!” Several people have weaved their own theories touting Egypt’s strategic position and weight in the region which will make it unwise for the “powers that be” to allow it to descend into …

Dr Mohamed Fouad

Egypt and the IMF: Are we asking the right questions?

By Iris Boutros The focus of Egypt’s progress to secure the pending $4.8bn loan from the International Monetary Fund (IMF) has been on the size, timing, and conditions of the loan. Many have speculated on the impact of protracted negotiations, the economy, the currency, investment, price inflation and subsidy cuts. These questions are critical, but …

Daily News Egypt