Egyptian proposer withdraws Suez Canal from debt swap

Hassan Heikal, the Egyptian businessman, withdrew his proposal to include the Suez Canal in the "Great Swap," which involved transferring ownership of some state assets in exchange for settling Egypt's domestic debts. This came after widespread rejection and an official government response rejecting the idea. Authorities confirmed that the Suez Canal is not subject to any swap or pledge, and that reducing public debt is achieved through improving public finances and implementing offerings, programs, and partnerships with the private sector. They emphasized that the idea was a personal opinion and not an official government stance.

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