The Egyptian economy slid into a foreign debt trap in 2021, and the country ended up borrowing in order to make repayments and cover the interest on existing loans. It also expanded domestic borrowing.
Egypt’s largest steel producer Al Ezz Dekheila purchased 18 percent of Egyptian Steel Company’s total equity in a deal worth 2.5 billion Egyptian pounds ($160 million). The purchase has been made from the founding partner Ahmed Abou Hashima and his company Egyptian Steel, according to an EGX filing. The fair value of the share has been set at 1,192 Egyptian pounds by the