Browsing: President Abdel Fattah al-Sisi

Biden backs Egypt's water security as Ethiopia prepares for the third GERD filling. www.theexchange.africa

Egypt and Sudan, both of which are located further downstream on the Nile, on the one hand, and Ethiopia, which is located upstream on the Blue Nile, on the other, have been engaged in a protracted disagreement on the construction of the GERD.

The two former countries are dependent on the waters of the Nile, and they are afraid that the reservoir being filled behind the dam will reduce the amount of water available to them. The reservoir has a capacity of 74 cubic kilometres, which is equivalent to 1.6 years of the average flow of the Blue Nile.

The Nile provides Egypt with 90 per cent of its fresh water and is essential to the country’s agricultural and power generation systems.

It is estimated that the filling will take seven years to complete, with the first two stages already having been finished. According to statements made before the end …

Egypt to privatise key state companies amid Rising Inflation www.theexchange.africa

Investors brought in after the 2016 IMF-scrutinised reforms are becoming increasingly sceptical of the Egyptian government’s finances, which is causing the price of Egypt’s dollar-denominated Eurobond in 2032 to plummet approximately 75 cents on the dollar at present.

This indicates that Egypt will have to pay higher interest rates if it wants to issue more bonds, even though the country is attempting to spread its debt with green, sharia-compliant, and yen-denominated samurai bonds.

In recent years, there has been a “quite large” rise in Egypt’s debt that has been issued in foreign currency, according to James Swanston, an economist at Capital Economics who specialises in the Middle East and North Africa.…