Page 25 - issue 66 en

ELITE
ELITE

Egypt’s reliance on Previously, such maneuvers
remittances and IMF support have allowed the government

makes it improbable that the evading some obligations while
government would still imposing economic
manipulate the exchange rate measures that strain society.
or abandon the IMF Notably, prior to the

agreement. Therefore, el- presidential elections last year,
Sisi’s recent statements could el-Sisi declared that a flexible
be a strategic move aimed at exchange rate would not be
achieving one or more adopted if it threatened

objectives: persuading the national security, even if it
IMF to overlook the contradicted IMF conditions.
privatization of military Yet, just months later, the
enterprises, delaying subsidy Egyptian pound was devalued.

cuts, appeasing public His recent rhetoric about
sentiment, or all of the prioritizing the public's well-
above.. being over rigid economic
policies rings hollow in light of

these past actions.

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