Egypt has been dependent on bailouts from wealthy Gulf countries and the IMF in recent years, while investors have withdrawn billions of foreign reserves Egypt is the second most country at risk of a debt [ More … ]
Although Egypt had previously dropped plans to send rockets to Russia under Washington’s pressure, yet it resists the United States’ calls to arm Ukraine, according to Wall Street Journal. The U.S. had managed to convince [ More … ]
Egypt criticized Russia’s exit from the Black Sea grain-export initiative and said it will continue to import Ukrainian wheat even after the collapse of the United Nations-backed agreement this week. “We are not pleased with [ More … ]
As Egypt nearly supplied rockets to Russia, it later agreed to arm Ukraine instead, a new leak shows Egypt made detailed plans to export rockets at Moscow’s request, but after a diplomatic offensive from Washington, [ More … ]
New intelligence collected from downed Iranian drones in Ukraine shows that a majority of the aircrafts’ parts are manufactured by companies in the U.S., Europe and other allied nations, reported the Wall Street Journal. This [ More … ]
Despite its dire human rights record and its serious economic situation, the Biden administration has approved a potential sale of anti-tank missiles and other equipment to Egypt. The U.S. administration on Thursday informed Congress that [ More … ]
The General Authority for Supply Commodities (GASC), Egypt’s state grain buyer, bought 350k tons of wheat from France, Russia, and Bulgaria in its first concluded tender since war broke out in Europe’s breadbasket, Bloomberg reported. [ More … ]
Egypt to introduce new austerity measures as the war between Russia and Ukraine wrecks its economy Amid the Russia-Ukraine war, economists fear new austerity policies will exacerbate suffering of millions of Egyptians already hit by [ More … ]
Russia’s war on Ukraine has adversely affected the Arab region, which heavily depends on wheat imports, including from these two countries. The fallout from the war varies from country to country, but it has hurt [ More … ]
Leaders of Egypt, Israel and the United Arab Emirates have met in the Red Sea resort of Sharm el-Sheikh for talks on the economic impact of Russia’s invasion of Ukraine and the growing influence of [ More … ]
Farmers who don’t deliver wheat quota have been threatened with jail as price spike jeopardizes Egypt’s 270 million daily loaves. However, some believe that Egypt’s wheat plan splits the industry. In the wake of the [ More … ]
Ukraine conflict may curb Egypt’s tourism and increase its food import bill, pushing government to talks with the International Monetary Fund on funding. Egypt is in talks with the International Monetary Fund on possible support [ More … ]
With the outbreak of the Russia-Ukraine war on Feb. 24, 2022, Egypt’s food security crisis now poses an existential threat to its economy, says Michael Tanchum, an American researcher and academic. Professor Michaël Tanchum, a [ More … ]
Russia’s invasion of Ukraine may cost Egypt about 955 million dollars in wheat import bills as wheat prices hit record highs. Egypt imports roughly 70 per cent of its wheat from Russia and Ukraine and [ More … ]
The ambassadors of the G7 (Canada, France, Germany, Italy, Japan, United Kingdom, U.S., and EU) have called on Egypt to issue a “clear and unanimous condemnation” of Russia’s unprovoked invasion and support Ukraine’s “territorial integrity [ More … ]
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