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The Region Nov 27, 2023 – EGYPT & NORTH AFRICA

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  1. North Africa’s Economic and Security Dynamics Unveiled. Despite financial assistance from Gulf countries, Egypt is engaging in talks with the World Bank to secure new loans for small projects and justice system initiatives in the fiscal year 2024/2025. Egypt’s pursuit of additional funding for green, sustainable, and blue financing reflects its efforts to address a growing dollar shortage crisis. Concurrently, the country is exploring the possibility of increasing the $3 billion IMF loan program due to economic challenges stemming from the ongoing Israeli-Palestinian conflict. While discussions of a potential €9 billion ($10 billion) European support package for Egypt are in progress, uncertainties linger regarding the conflict’s economic impact on investments and growth. 

 

In neighboring Libya, Turkey’s decision to extend its military presence by two years has sparked tensions and raised questions about the viability of the Libyan ceasefire agreement. The move, aimed at safeguarding national interests and countering illegal armed groups, faces opposition from parliamentary factions, contrasting with the UN-recognized government’s support for Turkey’s continued military involvement. These developments underscore the complex economic and security dynamics at play in North Africa, where Egypt’s financial negotiations and Turkey’s military extension impact the region’s stability and future prospects.

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📢 In case you missed it,

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📰 The Region November 20, 2023

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