Home News and Politics IMF Stands No Chance Against Egypt’s Collapsing Economy! You Won’t Believe the Shocking Military Intervention!

IMF Stands No Chance Against Egypt’s Collapsing Economy! You Won’t Believe the Shocking Military Intervention!

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IMF Stands No Chance Against Egypt’s Collapsing Economy! You Won’t Believe the Shocking Military Intervention!

Egypt’s Economic Crisis and the IMF Agreement: Implications for the Presidential Elections

As Egypt prepares for its upcoming presidential elections in December, the country finds itself in the midst of an economic crisis. Inflation rates have soared to record highs, unemployment rates continue to climb, and an increasing number of Egyptians are resorting to perilous sea journeys in an attempt to reach Europe as refugees.

About a year ago, the International Monetary Fund (IMF) and the Egyptian government reached a significant agreement. The deal involved a $3 billion loan to be disbursed over a span of 46 months. Privatization of Egypt’s remaining state-owned companies, including those owned by the military, was a key aspect of the IMF program. Additionally, the agreement introduced unprecedented requirements for transparency in internal finances and state subsidies to military firms. However, Egypt has fallen short in meeting these demands, raising concerns about its ability to make progress.

Has Egypt’s military-led economy experienced any changes in recent years, particularly since the new agreement with the IMF in December 2022? What factors are impeding progress on the program’s conditions, and what will it take to overcome this impasse? Furthermore, how will Egypt’s deteriorating economy and deadlock with the IMF impact the upcoming elections and the country’s political and economic trajectory in the next six years?

To delve into these pressing issues, the Tahrir Institute for Middle East Policy (TIMEP) and the George Washington University (GWU) are hosting an in-person discussion on Thursday, October 26 at 4:00pm Eastern time. Joining the conversation are distinguished speakers Yezid Sayigh, Senior Fellow at the Malcolm H. Kerr Carnegie Middle East Center in Beirut, and Shana Marshall, Associate Director of the GWU Institute for Middle East Studies. Together, they will shed light on Egypt’s political economy, the challenges with the IMF agreement, and the long-term implications of the country’s crisis on its politics and economy.

Speaker Profiles:

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