Egypt and the War in Gaza
Ones and Tooze
00:00
Egypt's Debt Crisis and its Regional Importance
Egypt's debt crisis was triggered by the Ukraine shock in 2022. With the shutdown of Ukrainian-Russian grain trade, Egypt, as a major grain importer, suffered massive withdrawals of funds. The devaluation of the Egyptian currency further fueled the crisis. Egypt, unlike Sri Lanka or Zambia, has crucial allies in the international community and believes they should receive assistance. Egypt's stability is important for the region.
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