Egypt: Abu Dhabi FDI deal a big band aid at best, an Arabtec-type deal at worst

  • PM Madbouly announces fresh capital inflow of US$24bn, equal to gross FX reserves, from Abu Dhabi ADQ's real estate deal

  • Positive for external account: signals less FX devaluation than parallel rate was implying and may bring IMF deal closer

  • But another uncontested mega project Egypt needs less than education and infra capex: anyone recall 2014 Arabtec deal?
February 25th, 2024
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