The U.S. bribed Egypt with $1.3 billion in military aid to get Cairo to “continue to participate in U.S. policy towards Palestine, which equates to facilitating the ongoing genocide in Gaza,” Dr. Annelle Sheline, a research fellow for the Middle East at the Quincy Institute, posted on Wednesday.
On 6 March, Egypt’s central bank jacked its key interest rate by six percentage points, the largest hike on record, bringing the rate to 27.25 percent in hopes of ending what Bloomberg has called “the worst economic crisis in decades.”
Egypt is building a security zone inside its Sinai region in anticipation for a massive influx of displaced Palestinians as Israel plans for a new offensive in Rafah, which is the last city in Gaza before Gazans run out of room to flee.
Egypt will suspend the Camp David Accords—a peace treaty with Israel from 1978—if Israeli Prime Minister Benjamin Netanyahu makes good on his threat to carry out a ground operation in Gaza’s Rafah...
Egypt, Jordan, and Lebanon have suffered “severe” economic damage from Israel’s war with terrorist group Hamas, The New York Times reported.
An Israeli tank struck an Egyptian position near Gaza during the second humanitarian convoy—injuring several border guards, Reuters reported on Sunday.
The value of Egypt’s currency, the pound, fell 15 percent last week to a record low of 23.09 to the U.S. dollar after the central bank raised a key interest rate by two percentage points.