Egyptian Cabinet discusses canal-for-debt proposal
The Egyptian Cabinet commented on the proposal by Prime Minister Advisor Hassan Heikal, who suggested exchanging some state assets, including the Suez Canal, for domestic debt. The council reaffirmed that this proposal reflects a personal opinion and does not represent the government's stance, clarifying that previous studies concluded that implementing this model is unsuitable, particularly since transferring assets does not contribute to reducing the country's public obligations. They emphasized that the Suez Canal is a strategic asset with a special nature and must be maintained as a sovereign property, especially as it is a major source of foreign currency and plays an important role in the national economy and global trade.
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