A fishing boat in the vicinity of the Suez Canal. (Credit: AFP illustration photo)
Regional news last week was marked by further devaluation of the Egyptian pound following Cairo's decision to meet conditions dictated by the International Monetary Fund (IMF), which just granted it a new loan of $3 billion.Egypt has been in a recovery period since the 2011 fall of Hosni Mubarak. In nearly 12 years, its national currency has lost more than 80 percent of its value.Not far away, the Lebanese economy is experiencing a similar trajectory. With a fragile structure — but under increased pressure since the start of the Syrian conflict in 2011 — Lebanon defied the odds until the summer of 2019 when the system crashed.Since then, the lira has lost more than 97 percent of its value. Despite ongoing discussions with the IMF, Beirut has still not been able to agree to its conditions to release financial aid.Located on both sides of...
Regional news last week was marked by further devaluation of the Egyptian pound following Cairo's decision to meet conditions dictated by the International Monetary Fund (IMF), which just granted it a new loan of $3 billion.Egypt has been in a recovery period since the 2011 fall of Hosni Mubarak. In nearly 12 years, its national currency has lost more than 80 percent of its value.Not far away, the Lebanese economy is experiencing a similar trajectory. With a fragile structure — but under increased pressure since the start of the Syrian conflict in 2011 — Lebanon defied the odds until the summer of 2019 when the system crashed.Since then, the lira has lost more than 97 percent of its value. Despite ongoing discussions with the IMF, Beirut has still not been able to agree to its conditions to release financial aid.Located on both sides...
Humanitarian convoy reaches Rmeish, Ain Ibl, Dibil despite obstacles