24 Hrs
Source:
المصري اليوم
Source: المصري اليوم
24 Hrsالمصري اليوم
Source: المصري اليوم
24 HrsReady to play
Ready to play
Businessman Hassan Heikal said the “Great Swap” was the only solution to Egypt’s domestic debt crisis, warning that a 1% interest-rate hike by the Central Bank would increase the government’s borrowing costs by at least EGP 120 billion. He proposed setting up a fund for state assets and swapping them for domestic debt after transferring the assets to the Central Bank, or issuing bonds at 5% interest worth between EGP 4 trillion and EGP 5 trillion. He said domestic debt of EGP 14 trillion meant that cutting spending or selling assets would not be enough: asset sales might bring in around EGP 550 billion, covering only two months of interest, by his estimate.
Notice: This Is an AI-Generated Summary
Comments (0)