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Egypt's military government is amassing debts to international lenders at record rates. With fiscal austerity measures biting, the country's poor and middle class are struggling to get by. By Tom Stevenson
"A sign of crisis" Egypt's military government is amassing debts to international lenders at record rates. With fiscal austerity measures biting, the country's poor and middle class are struggling to get by. By Tom Stevenson On 29 September, the Central Bank of Egypt released statistics showing the country's total foreign debt had risen 41 per cent, to $79 billion, in a single year. Egypt's debt totalled $34.4 billion, half current levels, as recently as 2012. Foreign debt has risen to 34 per cent of GDP according to central bank figures. Analysis conducted by Salma Hussein, a researcher in e...