News
Latest News
news bulletin
Breaking Headlines
Israel-Gaza War Updates
Variety and Tech
Sports News
Middle East News
World News
Lebanon News
Press Highlights
Lebanon Economy
News Bulletin Reports
Other News
Breaking Headlines
Israel-Gaza War Updates
Variety and Tech
Sports News
Middle East News
World News
Lebanon News
Press Highlights
Lebanon Economy
News Bulletin Reports
Beirut
28
o
Bekaa
29
o
Keserwan
28
o
Metn
28
o
Mount Lebanon
27
o
North
30
o
South
28
o
Live
Video
Audio
Schedule
shows
العربية
watching now
Morning Talk
SUBSCRIBE
Home
Notification
Live
Video
Audio
shows
Beirut
28
o
Bekaa
29
o
Keserwan
28
o
Metn
28
o
Mount Lebanon
27
o
North
30
o
South
28
o
News
Programs
The News
Breaking Headlines
Israel-Gaza War Updates
Variety and Tech
Sports News
Middle East News
World News
Lebanon News
Press Highlights
Lebanon Economy
News Bulletin Reports
Programs
Series
Movies
Documentaries
Variety
Comedy
Talk Show
News Bulletin
Sports
Breaking News
Latest News
Highlighted News
Most Read
Videos
العربية
Watch the latest programs and the latest developments on your favorite screen
Shows
Join millions of followers
Who We Are
Contact Us
Advertise With Us
Careers
Channel frequencies
Privacy Policy
Terms and Conditions
Egypt's Economic Challenges: Lessons from Lebanon
News Bulletin Reports
13-02-2024 | 08:00
High views
Share
Share
2
min
Egypt's Economic Challenges: Lessons from Lebanon
Report by Lea Fayad, English adaptation by Nadine Sassine
If you see what's happening in Egypt, you would say they're following in our footsteps; just like us, Egypt is facing a dollar shortage crisis.
The national currency has plummeted to over 60 Egyptian pounds to the dollar in the black market, while the official rate at banks is around 31 pounds. Just like our completely collapsed currency after the 2019 crisis when it reached 89,000 pounds to the dollar in the market, while the bank rate was 15,000 pounds to the dollar.
Egyptian banks, like Lebanese banks, have imposed limits on withdrawals and the use of electronic cards. Many projects have decided to shut down, and foreign investments are fleeing because there's no way to continue amidst financial instability and lack of trust in the country. In Lebanon, foreign investments have dwindled close to zero.
Ironically, even the solutions the Egyptian officials are implementing were previously adopted by us, such as using security forces to suppress currency traders and providing allowances without a scientific study on employees' salaries. These steps haven't brought us any closer to a solution because they don't address the problem of the dollar shortage and currency collapse, which require reforms and restoring confidence in financial and economic policies.
So, dear friends in Egypt, learn from experience. We haven't implemented reforms yet and scrapped the agreement with the International Monetary Fund. On the other hand, Egypt has now advanced in negotiations with the IMF to release substantial financial assistance (according to the IMF director) in exchange for implementing reforms, the most important of which is unifying the exchange rate to end the chaos in the market and restore confidence, foreign investments, and dollars to the country.
What do you think? Will Egypt succeed where Lebanon failed?
News Bulletin Reports
Lebanon
Egyot
Economy
Crisis
Next
Details emerge: Israel strikes building in Beirut's southern suburbs, marking second attack in days
Recommended For You
d-none hideMe
0
News Bulletin Reports
13:01
From ground incursions to media narratives: Israel’s dual approach in Lebanon—the details
News Bulletin Reports
13:01
From ground incursions to media narratives: Israel’s dual approach in Lebanon—the details
0
News Bulletin Reports
13:00
Israel explores normalization with Syria, despite challenges—could this mark a turning point in Mideast relations?
News Bulletin Reports
13:00
Israel explores normalization with Syria, despite challenges—could this mark a turning point in Mideast relations?
0
News Bulletin Reports
12:55
Hezbollah insists US must pressure Israel before dialogue on weapons: here’s what we know
News Bulletin Reports
12:55
Hezbollah insists US must pressure Israel before dialogue on weapons: here’s what we know
0
News Bulletin Reports
12:51
Israel tests boundaries in Lebanon with new ground incursions and offenses
News Bulletin Reports
12:51
Israel tests boundaries in Lebanon with new ground incursions and offenses
Subscribe to our VOD
SUBSCRIBE
Our visitors readings
d-none hideMe
0
Middle East News
2025-06-13
Israel says most of Iran Guards' air force leadership 'neutralized'
Middle East News
2025-06-13
Israel says most of Iran Guards' air force leadership 'neutralized'
0
Lebanon News
2025-06-17
MEA adjusts flight schedules from Beirut to Jordan and Gulf region from June 18 to 20
Lebanon News
2025-06-17
MEA adjusts flight schedules from Beirut to Jordan and Gulf region from June 18 to 20
0
Lebanon News
2025-07-07
Lebanon says ten wounded, including a child, in two Israeli airstrikes
Lebanon News
2025-07-07
Lebanon says ten wounded, including a child, in two Israeli airstrikes
0
Lebanon News
2025-04-05
US envoy Morgan Ortagus 'pleased' to return to Lebanon
Lebanon News
2025-04-05
US envoy Morgan Ortagus 'pleased' to return to Lebanon
Videos
d-none hideMe
0
Lebanon News
2025-07-01
Massive fire erupts at unregulated dumpsite in Bchannine, Zgharta district
Lebanon News
2025-07-01
Massive fire erupts at unregulated dumpsite in Bchannine, Zgharta district
0
Lebanon News
2025-06-10
Clash between Lebanese Army and residents of Deir Qanoun Al Nahr results in injuries (Video)
Lebanon News
2025-06-10
Clash between Lebanese Army and residents of Deir Qanoun Al Nahr results in injuries (Video)
0
Lebanon News
2025-06-04
Mexico dedicates garden around Lebanese Emigrant Statue in Beirut to mark 80 years of diplomatic ties
Lebanon News
2025-06-04
Mexico dedicates garden around Lebanese Emigrant Statue in Beirut to mark 80 years of diplomatic ties
0
Lebanon News
2025-05-19
President Aoun to seek Egyptian support for Lebanese Army in detecting explosives and tunnels
Lebanon News
2025-05-19
President Aoun to seek Egyptian support for Lebanese Army in detecting explosives and tunnels
0
Lebanon News
2025-05-15
LBCI Exclusive: US steps up pressure on Hezbollah, Morgan Ortagus details sanctions and vision for Lebanon's future
Lebanon News
2025-05-15
LBCI Exclusive: US steps up pressure on Hezbollah, Morgan Ortagus details sanctions and vision for Lebanon's future
0
Lebanon News
2025-05-11
Kuwait rolls out official welcome for Lebanon's President Aoun – video
Lebanon News
2025-05-11
Kuwait rolls out official welcome for Lebanon's President Aoun – video
0
Lebanon News
2025-05-11
Security incidents temporarily disrupt voting in several Akkar and Minieh-Danniyeh centers
Lebanon News
2025-05-11
Security incidents temporarily disrupt voting in several Akkar and Minieh-Danniyeh centers
0
News Bulletin Reports
2025-05-09
EU ambassador says 'we are not just donors, but genuine partners to Lebanon': Insights from exclusive LBCI interview
News Bulletin Reports
2025-05-09
EU ambassador says 'we are not just donors, but genuine partners to Lebanon': Insights from exclusive LBCI interview
0
Lebanon News
2025-04-23
US envoy Morgan Ortagus hails Lebanese diaspora, says country stands at a crossroads
Lebanon News
2025-04-23
US envoy Morgan Ortagus hails Lebanese diaspora, says country stands at a crossroads
Most read
d-none hideMe
24 hours
7 days
Month
1
Lebanon News
06:52
Israeli army claims destroying Hezbollah infrastructure in southern Lebanon
Lebanon News
06:52
Israeli army claims destroying Hezbollah infrastructure in southern Lebanon
2
News Bulletin Reports
12:51
Israel tests boundaries in Lebanon with new ground incursions and offenses
News Bulletin Reports
12:51
Israel tests boundaries in Lebanon with new ground incursions and offenses
3
Middle East News
04:34
Israeli officials confirm secret meeting between Tzachi Hanegbi and Syrian President Ahmed al-Sharaa in Abu Dhabi: LBCI correspondent
Middle East News
04:34
Israeli officials confirm secret meeting between Tzachi Hanegbi and Syrian President Ahmed al-Sharaa in Abu Dhabi: LBCI correspondent
4
News Bulletin Reports
13:01
From ground incursions to media narratives: Israel’s dual approach in Lebanon—the details
News Bulletin Reports
13:01
From ground incursions to media narratives: Israel’s dual approach in Lebanon—the details
5
Lebanon News
12:25
US State Dept spokesperson urges Lebanon to advance Hezbollah disarmament and urgent reforms after Barrack’s visit
Lebanon News
12:25
US State Dept spokesperson urges Lebanon to advance Hezbollah disarmament and urgent reforms after Barrack’s visit
6
Variety and Tech
09:30
From crown to cause: Miss Lebanon Nada Koussa named mental health ambassador
Variety and Tech
09:30
From crown to cause: Miss Lebanon Nada Koussa named mental health ambassador
7
Lebanon News
04:56
Cypriot President affirms Lebanon’s regional role during meeting with President Aoun
Lebanon News
04:56
Cypriot President affirms Lebanon’s regional role during meeting with President Aoun
8
Lebanon News
14:11
Total arrests rise to eight over arms displayed during Ashura march
Lebanon News
14:11
Total arrests rise to eight over arms displayed during Ashura march
Download now the LBCI mobile app
To see the latest news, the latest daily programs in Lebanon and the world
Google Play
App Store
We use
cookies
We use
cookies
to make
your experience on this
website better.
Accept
Learn More