Comité pour l'abolition des dettes illégitimes

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Egypt

Developing debt disaster

20 June 2023 - by Michael Roberts

Next week 300 international organisations and 100 heads of state meet in Paris to discuss how “to build a more responsive, fairer and more inclusive international financial system to fight inequalities, finance the climate transition, and bring (...)
From Lebanon to Sri Lanka through Latin America and Egypt: Public debt today and in the history of capitalism

26 February 2023 - by Eric Toussaint, Anis Germany

The present interview with Éric Toussaint aims at constructing a common position about debts and their payment. It also helps to understand the part played by debt and its mechanisms in the extraction of resources of the South by the North at an (...)
Another look at the debt of Tunisia and Egypt in the 19^th century and the colonization of those countries by France and Britain

29 September 2022 - by Eric Toussaint

The book Sovereign Debt Diplomacies: Rethinking Sovereign Debt from Colonial Empires to Hegemony merits reading. The work was published by Oxford University Press in 2021. Pierre Pénet and Juan Flores Zendejas, the co-editors, have accomplished a (...)
On the ‘Arab Inequality Puzzle’: The Case of Egypt

8 March 2021 - by Gilbert Achcar

This article elaborates on a keynote lecture delivered at a conference on inequalities in the Arab region held on 13–14 September 2018 at the American University of Beirut (AUB) to mark the launch of the Arabic translation of the 2016 World (...)
Neoliberal Authoritarianism in Egypt

11 February 2021 - by Yanis Iqbal

The whiplash of authoritarianism is being ruthlessly used in Egypt. On January 6, 2021, Ahmed Khalifa, social news editor of Egypt 360 after publishing a series of reports on workers’ legitimate protests. He was falsely charged with joining a (...)
Egypt: a repression made in France

9 July 2018 - by FIDH

A new report reveals today how the French State and several French companies have participated in the bloody Egyptian repression of the past five years by supplying Abdel Fattah al-Sisi’s regime with military and surveillance equipment. By (...)
The Egyptian Network for the Abolition of Debt and the Right to Equitable Development (ENADED)

8 May 2018 - by CADTM, ENADED

Today, as capitalism has an increasing tendency to globalize all aspects of human life, our struggle must be globalized too. It is essential to develop networking strategies with other organizations of the same spheres of struggles. Capitalism (...)
The Roots of the Egyptian Crisis

16 January 2018 - by Joel Beinin

Egypt’s current crisis highlights the flawed foundations of its post-revolutionary state. But liberal nostalgia for the days of the monarchy is equally misplaced. ohamed Bouazizi, a long-suffering and dispossessed farmer turned street vendor, (...)
Solidarity Statement

We demand the release of all Egyptian detainees, arrested for resisting the handover of “Tiran and Sanafir” islands to the Kingdom of Saudi Arabia

22 June 2017 - by Collective

The Egyptian authorities have recently started a wide campaign of arrests of activists who actively oppose and resist a new agreement that will allow the handover of the Egyptian islands “Tiran and Sanafir” to Saudi Arabia. Among the arrested (...)
Egypt’s debt trap: The neoliberal roots of the problem

5 June 2017 - by Mohammed Mossallem

Table of Contents I. Introduction II. The Causes Behind the Debt Crisis in the 1980s III. Post Debt Crisis: The Golden Opportunity Squandered Debt Implications of The Policies Adopted IV. Falling back into the debt trap: 2000-2011 (...)
Egypt’s new IMF deal comes with a huge price tag for human rights

13 February 2017 - by Mahinour El-Badrawi, Allison Corkery

The government of Egypt has sealed a loan deal with the IMF following four years of negotiations. The impacts of the structural adjustment reforms associated with the loan raise strong human rights concerns, particularly for the status of (...)
Open letter to the Egyptian President on the pending agreement with the IMF

30 August 2016 - by Collective

In early September, the IMF is going to give to Egypt a “loan” of 12 billion dollars in exchange for lowering public spending, reducing the number of public employees, the phasing out of subsidies on consumer goods and a new privatisation program. (...)
Debt as an instrument of the colonial conquest of Egypt

6 June 2016 - by Eric Toussaint

This article is dedicated to the memory of Youssef Darwish 1910-2006 (in Arabic: يوسف درويش), the Egyptian activist who relentlessly fought for justice and internationalism. Repeatedly jailed and tortured for his communist commitment and his crusade for (...)
ECESR Raided for the 2^nd Time Under Current Regime, The Regime’s Atrocities Escalate

23 May 2014 - by Egyptian Center for Economic and Social Rights

The undersigned organizations condemn the security forces storming of the Egyptian Center for Economic and Social Rights, Alexandria Branch, and note that such attack is an expected escalation, amidst the growing incitement in the media, and (...)
GMOs, water grab and ice cream for the masses - the EBRD gets involved with Nestlé Egypt

14 February 2014 - by Sophie Delaval

The EBRD’s board of directors yesterday approved a USD 20 million loan for the expansion of Nestlé Egypt food production company. Leaving aside the question whether Nestlé – one of the world’s largest companies from one of the world’s richest (...)
Egypt

Open Call: Egyptian Human Rights Organizations Oppressed

19 December 2013 - by Egyptian Center for Economic and Social Rights

In an escalatory and unjustified step, police forces have raided the premises of the Egyptian Center for Economic and Social Rights (ECESR) at around 11:30 p.m. on Wednesday December 18, 2013, in which they violently assaulted and arrested six (...)
Egypt’s turmoil is a distraction from IMF economic agenda

24 September 2012 - by Nick Dearden

Political and religious tensions should not obscure the deeper economic issues that are dividing Egyptian society The storming of the US embassy in Cairo has diverted attention once again from the real issues facing Egypt. It couldn’t have come (...)
Egypt. ’No’ to borrowing on the terms of the IMF, Ganzouri and their successors

13 September 2012 - by Wael Gamal

An IMF loan is the easy way out for Egypt’s economic and political elites, but one that will betray the principles of the revolution In a statement to Al-Shorouk newspaper ten days ago, Egypt’s Minister of Finance Momtaz El-Said said that Prime (...)
Hook: Egypt debt repayments to UK and other Western governments, 29 June

Egypt pays $650m ‘dictator debt’ to West

28 June 2012 - by Jubilee Debt Campaign

Campaign groups in London and Paris will protest the ongoing repayments Egypt is making to the UK and France on the basis of ‘dictator debts’ run up under the regime of Hosni Mubarak. Egypt is expected to pay around $650 million to the Paris Club (...)
The Popular Campaign to Drop Egypt’s Debt Call to European national MPs and MEPs: To demand from the Egyptian government an audit of Egypt’s debts to EU countries through an independent committee

Preamble The end of the Mubarak dictatorship left Egypt with a heavy legacy of failed economic policies and a misshaped sovereign debt management with projects not necessarily benefiting the vast majority of the Egyptian population. Today, Egypt (...)
Drop Egypt’s Debt letter to IMF around Spring meetings requesting transparency!

28 April 2012 - by Popular Campaign to Drop Egypt’s Debt

The Popular Campaign to Drop Egypt’s Debt demands, in an open letter, that all conditionality clauses relating to the proposed $3.2 billion IMF loan to Egypt be revealed Dear Ms. Christine Lagarde, The Popular Campaign to Drop Egypt’s Debt is (...)
Egypt’s economic reform proposals ignore social justice: Civil group

2 April 2012 - by Bassem Abo Alabass

Proposed government plans to curb the country’s public debt to meet International Monetary Fund approval fail to address endemic poverty, a key cause of the revolution, say critics Protester’s hand is daubed with a leading demand of the (...)
Statement of the Popular Campaign to Drop Egypt’s Debt

Egypt. Debt Swap is not an Alternative to Cancelling Odious Debt

17 February 2012 - by Popular Campaign to Drop Egypt’s Debt

Background Amidst a general atmosphere of an extreme lack of transparency it has come to our knowledge that Egypt had sealed agreements with three European countries pertaining to the implementation of debt swap programs, and is currently (...)
Press Release

Egypt: transitional government obtains loans four times as much as those of Mubarak’s time

2 February 2012 - by Amr Adly

The IMF loan issue is looming again in the horizon, a few months after the rejection of a similar loan. It was claimed that the first loan was rejected because its conditions were unacceptable, however, such conditions were never revealed to the (...)
Egypt’s ’Orderly Transition’? International Aid and the Rush to Structural Adjustement

3 December 2011 - by Adam Hanieh

lthough press coverage of events in Egypt may have dropped off the front pages, discussion of the post-Mubarak period continues to dominate the financial news. Over the past few weeks, the economic direction of the interim Egyptian government (...)