Council of Ministers on asset exchange proposals

The Council of Ministers confirmed that the proposals circulating regarding the exchange of international assets, such as the Suez Canal, in exchange for settling domestic debt are not part of the Egyptian government's policies. Previous studies have concluded that such exchanges are not practical or beneficial. They clarified that transferring assets and debts between government entities does not reduce public commitments, and addressing the debt requires an integrated strategy focused on its structure, cost, and liquidity availability. They emphasized that the Suez Canal is a strategic facility with a special nature, closely linked to national security and the national economy. It is not proposed to mortgage it or exchange it for debts. Additionally, they pointed out that managing public debt relies on improving financial indicators, achieving surpluses, increasing government resources, and maximizing asset returns within a clear and transparent policy. The government also remains committed to allowing space for economic ideas and opinions, distinguishing them from official policies.

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