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The Indicator from Planet Money

How Egypt's military is dragging down its economy

The Indicator from Planet Money

NPR

Business

4.79.5K Ratings

🗓️ 15 February 2024

⏱️ 11 minutes

🧾️ Download transcript

Summary

Egypt's economy is facing its worst crisis in decades. The situation could further destabilize the Middle East if it goes unresolved. Now, the International Monetary Fund is working with Egyptian leadership to figure out another deal for a multi-billion dollar loan ... but will it be enough? Today, we look at how Egypt has fallen into economic crisis and whether its economy is too big to fail.

Related episodes:
What could convince Egypt to take in Gaza's refugees? (Apple / Spotify)

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Transcript

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0:00.0

NPR.

0:04.0

In the

0:05.0

In the

0:08.0

In the Egyptian desert in the Egyptian desert of Cairo, a new mega city is taking shape.

0:16.3

It's called the new administrative capital, and it's home to Africa's tallest

0:21.3

building, plus a sports complex and a sprawling presidential palace.

0:25.5

Massive construction projects like this one are part of Egyptian president Abdel Fata al-C's

0:31.0

economic vision for the country. But there's a hitch. Egypt can't afford to build

0:36.4

its lavish new capital. The country is deeply in debt, the local currency has plunged in value, and millions of people have been pushed into poverty.

0:45.9

Egypt's economy is facing its worst crisis in decades and the problems could

0:50.8

destabilize the country during a crucial period for the Middle East.

0:56.4

This is the indicator from Planet Money, I'm Whelan Wong.

0:59.0

And I'm Darren Woods.

0:59.8

Today on the show we look at how Egypt's economy fell into crisis and how the international community

1:06.0

might offer a lifeline to one of the region's most important geopolitical players.

1:15.7

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1:41.3

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countries. We're able to configure the audit rules correctly for each of those countries.

...

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