Egypt, EU hold an investment conference to help Cairo battle inflation and foreign currency crisis

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Egypt News

European Union,Foreign Currency,Investment

CAIRO (AP) — Egypt and the European Union on Saturday opened a two-day investment conference to advance the implementation of their strategic partnership...

The March aid package includes both grants and loans over the next three years for the Arab world’s most populous country. Most of the funds — 5 billion euros — are macro-financial assistance to help Egypt shore up its economy, which is hit by a staggering shortage of foreign currency and soaring inflation.

“In just 100 days, we have already brought new energy into our partnership. And this is just the beginning,” European Commission President Ursula von der Leyen, who attended the conference, said. The EU deal, which has drawn criticism from rights groups over Egypt’s human rights record, came as concerns grow that economic pressure on Egypt and conflicts in neighboring countries could drive more migrants to European shores.

TORONTO — Ontario Premier Doug Ford kicked a backbencher out of the Progressive Conservative caucus on Friday after what he called repeated and serious lapses in judgment. Goldie Ghamari, who represents the Ottawa-area riding of Carleton, recently took a virtual meeting with Tommy Robinson, the former leader of the far-right English Defence League.

 

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