Analysis

The IMF’s Overly Optimistic Review of Egypt

Over the past several months, there have been several benchmarks in the International Monetary Fund's loan to Egypt. The IMF's executive board approved the third $2 billion tranche of the loan at the end of June, bringing the total drawn...

Expert Q&A on Egypt’s Price Hikes

Over the past two months, Egypt has raised the price of the Cairo Metro, electricity, water, and fuel. Metro users will pay a base fare of 3 Egyptian pounds (LE) and as much as LE7, depending on the number of...

The Risks of Egypt’s Mounting External Debt

Egypt’s landmark devaluation of the pound in November 2016 was a historic move hailed as a necessary step on a path of economic recovery, as the country embarked on an ambitious economic reform program with the International Monetary Fund. But...

Egypt’s Ad Campaign for Investment Law Glosses over Economic Challenges

A television commercial showed beautiful young people walking out on their daily jobs, launching a homemade jam company, a food truck, or a designer furniture store. A voiceover promised that the new investment law will give “exceptional incentives to small...

Egypt’s Payroll Is Fine, but Its Revenues Are Too Low.

Throughout June, the Egyptian cabinet and parliament debated a budget for the 2017–18 fiscal year, which began on July 1. The budget has been referred to in Egypt as the “IMF budget” due to the number of restrictions in an...