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
25
o
Bekaa
21
o
Keserwan
25
o
Metn
25
o
Mount Lebanon
21
o
North
24
o
South
25
o
Live
Video
Audio
Schedule
shows
العربية
watching now
Kaser Adem - Al Saradib
SUBSCRIBE
Home
Notification
Live
Video
Audio
shows
Beirut
25
o
Bekaa
21
o
Keserwan
25
o
Metn
25
o
Mount Lebanon
21
o
North
24
o
South
25
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
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
From South Lebanon to Bekaa: Israel’s plan to reconfigure border security
Recommended For You
d-none hideMe
0
News Bulletin Reports
13:30
Gaza peace summit leaves Lebanon on the sidelines: Can Beirut balance pragmatism and security?
News Bulletin Reports
13:30
Gaza peace summit leaves Lebanon on the sidelines: Can Beirut balance pragmatism and security?
0
News Bulletin Reports
13:00
Lives on the line: Migration by sea from Lebanon sees sharp decline
News Bulletin Reports
13:00
Lives on the line: Migration by sea from Lebanon sees sharp decline
0
News Bulletin Reports
2025-10-12
Syrian detainees in Lebanon: Legal hurdles shape possible returns
News Bulletin Reports
2025-10-12
Syrian detainees in Lebanon: Legal hurdles shape possible returns
0
News Bulletin Reports
2025-10-12
Countdown to Trump visit: Hamas seeks detainee release, Israel stands firm
News Bulletin Reports
2025-10-12
Countdown to Trump visit: Hamas seeks detainee release, Israel stands firm
Subscribe to our VOD
SUBSCRIBE
Our visitors readings
d-none hideMe
0
Lebanon News
2025-09-18
Lebanon’s PM urges Israel to halt attacks following evacuation warnings
Lebanon News
2025-09-18
Lebanon’s PM urges Israel to halt attacks following evacuation warnings
0
Lebanon News
2025-10-07
Samir Geagea to AFP: Hezbollah should learn from Hamas and hand over its weapons to the Lebanese state
Lebanon News
2025-10-07
Samir Geagea to AFP: Hezbollah should learn from Hamas and hand over its weapons to the Lebanese state
0
News Bulletin Reports
2025-10-10
After years of silence, Lebanon reopens high-profile assassination files: What’s behind the move?
News Bulletin Reports
2025-10-10
After years of silence, Lebanon reopens high-profile assassination files: What’s behind the move?
0
News Bulletin Reports
2025-09-01
From South Lebanon to Bekaa: Israel’s plan to reconfigure border security
News Bulletin Reports
2025-09-01
From South Lebanon to Bekaa: Israel’s plan to reconfigure border security
Videos
d-none hideMe
0
Lebanon News
2025-10-04
Meet Miss Lebanon 2025 contestants: Video
Lebanon News
2025-10-04
Meet Miss Lebanon 2025 contestants: Video
0
Lebanon News
2025-10-03
Series of Israeli airstrikes spark massive fire in southern Lebanon
Lebanon News
2025-10-03
Series of Israeli airstrikes spark massive fire in southern Lebanon
0
Lebanon News
2025-09-07
Lunar eclipse captivates Lebanon: watch the stunning video
Lebanon News
2025-09-07
Lunar eclipse captivates Lebanon: watch the stunning video
Most read
d-none hideMe
24 hours
7 days
Month
1
Lebanon News
14:29
Tests confirm contamination in Tannourine water after Health Ministry suspends company operations
Lebanon News
14:29
Tests confirm contamination in Tannourine water after Health Ministry suspends company operations
2
Lebanon News
03:57
Lebanese Health Ministry clarifies suspension of Tannourine water sales
Lebanon News
03:57
Lebanese Health Ministry clarifies suspension of Tannourine water sales
3
News Bulletin Reports
13:30
Gaza peace summit leaves Lebanon on the sidelines: Can Beirut balance pragmatism and security?
News Bulletin Reports
13:30
Gaza peace summit leaves Lebanon on the sidelines: Can Beirut balance pragmatism and security?
4
Lebanon News
06:21
Tannourine questions accuracy of Health Ministry's test results, denies any contamination
Lebanon News
06:21
Tannourine questions accuracy of Health Ministry's test results, denies any contamination
5
Lebanon News
11:40
Lindsey Graham: Lebanon must disarm Hezbollah to secure lasting regional peace
Lebanon News
11:40
Lindsey Graham: Lebanon must disarm Hezbollah to secure lasting regional peace
6
Lebanon News
05:30
Labor Minister backs Health Ministry’s decision on Tannourine water, aiming to protect public health
Lebanon News
05:30
Labor Minister backs Health Ministry’s decision on Tannourine water, aiming to protect public health
7
Lebanon Economy
03:27
Fuel prices in Lebanon decrease
Lebanon Economy
03:27
Fuel prices in Lebanon decrease
8
Israel-Gaza War Updates
12:41
US, Egypt, Qatar, Turkey sign Gaza declaration
Israel-Gaza War Updates
12:41
US, Egypt, Qatar, Turkey sign Gaza declaration
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