Egypt is trying to drum up international investment as it attempts to handle a buck lack that has caused a sharp devaluation of the Egyptian pound.
Egyptian Head of state Abdel Fattah al-Sisi begins a check out to India on Wednesday where he will certainly meet business leaders and be a guest of honour at the Republic Day ceremony.
The journey will consist of discussions on enhancing financial relations in between the two countries and evaluating chances for Indian investment in Egypt, a declaration from the Egyptian presidency said.
Egypt is attempting to drum up foreign investment as it attempts to handle a buck lack that has brought about a sharp depreciation of the Egyptian extra pound.
In 2014 it looked for assistance from energy-rich Gulf allies and the International Monetary Fund after the financial results from the battle in Ukraine intensified its underlying challenges.
Cairo has likewise been seeking to build political and also profession ties beyond its standard partnerships with the United States and also European powers, including in sub-Saharan Africa and also Asia.
Last Updated: 24 January 2023
