13 Hrs
Source:
CNN Arabic
Egypt replies to asset-for-debt proposal
The Egyptian Prime Minister's Office has affirmed that the idea of exchanging state assets, including the Suez Canal, in exchange for settling domestic debt does not represent an official government policy. It also indicates that it is merely a personal opinion, and that the state has never adopted such a stance. The relevant authorities have previously studied this idea and found it unsuitable, as it does not effectively help reduce public debt. Addressing the debt requires a comprehensive approach that considers the debt structure, costs, and liquidity. They emphasized that the Suez Canal is a strategic facility of particular importance, linked to Egyptian national security and sovereignty, and that there are no intentions to exchange or pledge it in exchange for debt. The government concluded that managing public debt depends on improving financial indicators, increasing resources, and developing asset management in a way that yields high returns for the national interest and future generations.
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