Ministers address asset-for-debt plans

The Council of Ministers issued a statement affirming that the circulating proposals regarding the transfer of ownership of some public assets, including the Suez Canal, to the Central Bank of Egypt in exchange for settling government debts, are not official initiatives from the government and merely reflect personal perspectives. It clarified that previous studies have dismissed such a notion due to its lack of economic and financial suitability, as transferring assets does not reduce the overall obligations of the state. The council emphasized that the Suez Canal is a strategic facility with a special nature, directly linked to national security and the national economy, and there is no official intention to exchange or pledge it in exchange for debts. Additionally, the council stated that managing public debt relies on comprehensive policies aimed at improving financial indicators and increasing returns from assets, while supporting transparency and providing space for experts and diverse economic perspectives.

Size: 120%Text Size

Notice: This Is an AI-Generated Summary

Display The Full Article