Top Headlines

• Moody’s downgrades Egypt credit rating deeper into junk territory amid debt crisis 
• World Bank revises up Egypt’s growth forecast for 2023 to 4.2 percent
• Egyptian banks suspend debit card use  in foreign currency
• Egypt’s President el-Sisi to run for third term, opposition decry pressure
• Egypt calls for halting Israeli-Palestinian escalation, urges utmost restraint
• Two Israeli tourists and local guide shot dead in Alexandria
• US embassy in Egypt warns citizens to use ‘increased security’ after tourist deaths
• Egypt’s appeal court upholds a 6-month sentence against a fierce government critic

Egypt’s Sisi following events in Israel/ Gaza from the Strategic Crisis Management Center

Main Headlines

Monday

• Egypt’s Sisi announces candidacy for third term in office ‘to complete the dream’
• Dozens were injured after fire engulfs police complex in Egypt
• Morgan Stanley is turning bearish on Egypt as the cash-strapped nation faces what the US bank called “mounting risks”

Tuesday

• The IMF will carry out its annual assessment of Egypt’s economy once the country manages to pass a delayed review of its $3 billion rescue program
• Senator Ben Cardin, who replaced Bob Menendez as chairman of the Senate Foreign Relations Committee, blocks military aid to Egypt  over its human rights record

Wednesday

• Egypt’s opposition candidate say they face foul play over presidential candidate endorsements
• Egypt’s tourism revenues hit a record $13.6 billion in FY 2022/2023

Thursday

• Egypt must devalue its currency again or risk bleeding reserves, says IMF Managing Director Kristalina Georgieva
• Egyptian banks suspend debit card use in foreign currency
• World Bank revises up Egypt’s growth forecast for 2023 to 4.2 percent

Friday

• Egypt’s credit score was downgraded by Moody’s amid what the ratings firm called “increasingly constrained” policy options to rebalance the economy
• Egypt’s bonds spiral lower after Moody’s downgrade over economic woes
• Egypt to offer stakes in state-owned petrochemicals within 2 months
• ‘Brilliant experience’: Indian forces return from Exercise Bright Star in Egypt

Saturday

• Egypt calls for halting Israeli-Palestinian escalation, urges utmost restraint
• Egypt in talks with Saudi Arabia, Jordan to de-escalate Israel-Palestine situation 
• Egypt’s bonds fight back after Moody’s downgrade triggers tumble
• Egypt rejects European Parliament’s statement on presidential elections
• GERD tensions flare again as Ethiopia and Egypt and trade letters at UN Security Council

Sunday

• Two Israeli tourists and local guide shot dead in Egypt
• Egyptian security source negates killing of 6 Israeli tourists in Sinai
• US embassy in Egypt warns citizens to use ‘increased security’ after tourist deaths
• An Egyptian appeal court upholds a 6-month sentence against a fierce government critic
• Israel asks Egypt to help negotiate release of Israelis, say Egyptian officials

Reports

• Egypt’s economy hit with downgrades as Sisi seeks third term. Adam Lucente
• Egypt’s economy teeters following Moody’s downgrade. Adam Lucente
• Egypt’s cratering economy drives many to risky migrant route. Reuters

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