HuddaBudda , 8 months ago

Prime Minister Moustafa Madbouly has, meanwhile, sought to reassure investors about the state's finances. "I affirm that the Egyptian state has not failed and will not fail to pay any of its international obligations," he said in April.

Amid a foreign currency crunch, Egypt has drawn down net foreign assets in the banking system by more than $40 billion in two years, partly used to prop up the pound.

It seems like this deal would be beneficial in some ways, because it sounds like the world bank is kind of writing off parts of this debt already.

This way it allows for Egypt to build it's economy towards something different, at the expense of basically having to feed, dress, house, and police, 2 million people who are going to be hellbent on getting back at the people who harmed them.

On that topic, how does Israel have the power to write off debt?

House Republicans unveiled a $14.3 billion aid package for Israel on Monday

Oh..... right.... we're helping pay for it.... o_o