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Cash-strapped Egypt sells state assets to Gulf nations

Published on: Tuesday 14 February 2023

Egypt, sapped dry of dollars despite a $3 billion International Monetary Fund bailout loan, is seeking to boost its coffers by selling state assets to wealthy Gulf nations.Of the $34.2 billion in Cairo's foreign reserves -– a 20 percent drop from February 2022 –- some $28 billion are deposits from wealthy Gulf allies.

News source: https://news.yahoo.com/cash-strapped-egypt-sells-state-025723023.html

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Cash-strapped Egypt sells state assets to Gulf nations