Egyptian Pound in Freefall: IMF Loan the Cause? | Vantage with Palki Sharma
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- Опубліковано 6 бер 2024
- Egyptian Pound in Freefall: IMF Loan the Cause? | Vantage with Palki Sharma
The IMF has agreed to loan Egypt $8 Billion. In exchange, Egypt was forced to stop artificially supporting its currency, the Egyptian pound. The pound's value plummeted to record lows after the decision. Will this shock help end Egypt's economic crisis? Palki Sharma tells you more.
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Egypt | Pound | IMF | Economic Crisis | Firstpost | World News | Vantage | Palki Sharma
#egypt #pound #imf #egyptianpound #economiccrisis #firstpost #vantageonfirstpost #palkisharma #worldnews
Vantage is a ground-breaking news, opinions, and current affairs show from Firstpost. Catering to a global audience, Vantage covers the biggest news stories from a 360-degree perspective, giving viewers a chance to assess the impact of world events through a uniquely Indian lens.
The show is anchored by Palki Sharma, Managing Editor, Firstpost.
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Egypt 🇪🇬 & Nigeria 🇳🇬 with their populations are facing their worst time. Our leaders (Politicians) have killed their people without a gun. Lots of suffering & hunger in the land. 😭😭
لابأس ياصديقى ❤
In Pakistan we feel same thing
That's because You have No Sense if you Can't Afford Money Why producing More Babies
Sri Lanka too faced economic crisis worst than this.
14hr power cut, no gas ,no fuel people died waiting in the long que gor days in the crouching sun.
But after some tough economic reforms now we have goods but at a higher price. 😢
I wish country's Undergoing economic crisis would recover soon.
@@sceneryofsrilanka2870 Sure I remember that period but the people of Nigeria can't protest or challenge its government the way the Sri Lanka 🇱🇰 people did to its government.
The same imf that advised Nigeria to devalued their currency too. What do they really want?
how about you do a little bit of reading before talking? these countries are addicted to imports that's why they are being crushed. go read the Washington consensus. it is the same formula for every country that is in danger of collapse. Nigeria has been a part of the IMF since the 60s. these countries are suppose to use that money to fight corruption, increase capital expenditure, broaden their tax base, etc... Nigeria gets most of its taxes from oil, which is less than 20% of its entire economy. isn't that insanity? If the tax base is broadened they can invest in infrastructure and go on the offense as far as manufacturing and exports.
They want to take loans from the IMF. That's what they want.
Trade with your neighbors with own currency
Sell oil for cheap
They/IMF want you to be in a debt trap. So that the US can make sure you lag behind.
Best time to plan a holy-day trip to Egypt and turkey....❤
Not to Turkey. They're backstabbers lol
If you never want to make it back home again.
Cost should never be the first priority.
Now there every payment done in USD 😊😊
@@alphaomega8373 Egypt is safer than most of the western countries as Islam encourages to be a good host to travelers and while Egyptians will not rob you, they will try every other way to get your money but who can blame them when their currency keeps dropping in value
Was recently there ...the scamming is worse now 😅
Egypt is experiencing what Ishaq Dar did with Pakistan. PKR plummeted after that
It's unbelievable to know that Egypt currency is stronger than Indian currency. The present "international currency rates" are hinged around the US dollars that are under debt traps without affecting it's value.
Currency values are also dependent on exports. Ex- Korea, Japan, China.
That's because Egypt is a tourist run country.
Whereas Japan and Korea are all exports Countries
Japanese and Korean currencies are lower than that of India's
@@KRISH57676, there's no transperency in the international financial system. This needs to be transparent and accountable to people.
@@ChandranPrema123, India's internal and export market strong in addition to strong GDP. Present system isn't favoring India and many other countries.
Cairo is hell for tourists....people bug around so much...
50 Egyptian pounds and you are complaining? Come to Nigeria, it's 1750 naira to a dollar, and the people are suffering.
Niara was one to one dollar years back , really sad.
Kenya is worse 😳 our economy collapsed long time ago.
So all the bragging and hype about Future is about Africa is just a hoax 😂
@@abhimanyunath2001 Fake named indian "mujlam" Guy writing negative to create bitterness .
Egypt need to liberalize more tourism rule. Especially for Asian countries. Need more liberalize like Dubai. Otherwise no use .
Egypt needs to make more stuff inside than import everything.
Egypt messed with Israel and this happened
No. It's because of IMF/US debt trap.
@@yestomor7673how is it debt trap? They can always go to the Chinese for higher interest debt if they can’t pay they will takeover a port or a major project that’s debt trap. Asking you to not artificially control ur currency is not debt trap.
@@prashanthsubburam1605 Higher interest? Yeah that's exactly IMF & the so-called World Bank.
Those organizations controlled by the US (a country with a highly manipulated currency) demand other countries to stop their financial policy.🤣🤣🤣
Same logic as: I saw a black cat today on the street, my day is ruined......
You mean egypt made peace with Israel and has been a crappy country ever since
من المملكة العربية السعوديه تحيا مصر
🇸🇦❤️🇪🇬
❤❤❤❤❤❤❤❤❤❤❤❤
First Diversify Oil otherwise Saudi is Also in Same Fate in next 20-30 yrs MBS is good job
من مصر تحيا تحيا مصر
20 Years latter saudi also will be face more economic challenge,, you people don't know how to work..Egyptian knows their works,,what about Saudis?
The reason the loan went to 8b USD was that Egypt closed a deal for 35b USD with united Arab Emirates as down payment for land on the Mediterranean that Egypt will keep third of it's profits for life.
The official price went from 30egp to 1usd to official 50egp to 1usd, but keep I mind official price wasn't actual, most traders used black market prices which was at 60egp to 1usd, so technically the economy is looking up.
Hopefully the war in Gaza ends and touris and Suez canal profits come back up. Thanks for covering our news.
This is like every country is in economic mess
#SaveEgypt
Egypt was called the breadbasket of the Roman Empire, also the wealthiest province of the Roman Empire, today it's the largest import of Wheat in the world!, having a bad economy!.
Unstoppable increase in population and very limited arable land (4% of total land) rest is desert. Go and figure it out.
palki still the best!
Spell her name with all caps!
Pakistan is heading towards the same direction. too much loans are taken to pay back the interest. It’s very unfortunate that the military, government, judiciary, and civilian bureaucracy alliance is taking loans and later on leaving the country upon retirement
All that grain import 90% goes to feed chickens. Each chicken eats 200kg grain to be your one meal. 200 kilo grains can feed one person for full month. This is reason they have to import tons of grains and food is expensive.
India doesn't have such huge inflation as 50% are vegetarians
Our country also has to import less and produce more
with all due respect --- you did not mentioned (ras el hekma city) this investment provided egypt with 35 billion dollars within 2 months has transferd to the centeral bank of egypt few days before the imf agreenment
Egypt should figureout a way cultivate more wheat and cutdown the import
The Suez Canal profit is so vital to the Egyptian economy.
It's Houthis making sure there's almost no revenue from the canal. Talk of unintended consequences.
😮IC. Must come forward and rescue it with free falling 🍁🍁🍁🍁....
Why do we have to always do business with this foreign currency. This is exactly what is happening Nigeria
Because nobody trust your government and your money.
Don't gave too much money for Egypt they use the money making problem in Ethiopian 😮 because of Nile river know Ethiopian time to use Nile river God bless Ethiopian ❤
Its game of the rich
Calculating the cost of Egyptian imports in US dollars is mainly for convenience to give a single cost figure. In reality, the cost is made up of the currencies of all countries Egypt imports from.
Railing against the US for Egypt's woes is to misunderstand the situation, as is suggesting God (Allah) is punishing Egypt for political decisions. God is surely above politics!?
😂😂😂
1:15 Sorry to break this news to this lady. Egypt doesn’t make enough stuff that you can buy with Egyptian pound. Unlucky for you, but that’s a fact.
Say No to USD as the go to foreign exchange
Suez canal contribute a lot to their budget. now it is barely functioning becuase of houthi blockade.
Lease those pyramids, I'm sure there are billionaires crazy enough to fork out big money
Don’t worry we Indians had been then and still doing good
India is doing good?? 😅 if that’s doing good I’d hate to see what bad looks like
Millions of Egyptians are praying to become an Egyptian Aussie
That Suez money not coming through because of Houthi blockade
Usa and eu have to decide to support turkey economy!!!
What went wrong with dedollarization 😑😑😑???
Can't happen
De-dollarization was a Chinese/Russians campaign along with their authoritarian allies which was more like an aspiration than a practicality 🤷
Derollerizaton won't happen and Chinese economy is also struggling.. For the first time in more than 3 decades us gdp growth rate surpassed China
How much is $50 per rupee?
1$ = (around) ₹80 to ₹85.
1 USD = 83 RUPEES
You look 20 years younger ❤
And on top of all this, Egypt is losing transit fees in the Suez Canal because of the Houthi attacks.
De-dollarization was a Chinese/Russians campaign along with their authoritarian allies which was more like an aspiration than a practicality 🤷
Where are the nice INDIA Dresses from that woman ?
Pronunciation from that Lady : very good ! ! !
1:30 he never said thankgod, who did the translation😂
The Houthis are doilies a great job.
its called Kerb market not black market....
Is it legal ?
your from a third world nation you tell me is it legal in your country...@@luckycat-tarot
Illegal
Main problem country no dollars
India should help it's new ally Egypt financially & also militarily
What will that give india ??
@@SuperScarab are bha yuvraj singh Punjab da Munda & my one of favourite cricketer ka name ,great ,fyada it will help us to build good relationship with the Arab world just like USA, Russia & china have done so far ,isse Egypt may sign agreement with us to give their bases to attack our enemy countries like turkey or Azerbaijan in future if required, remember Iran has already signed a contract with our gvt regarding using their bases in past ,besides Egyptian Suez canal is a very very vital route for business which will benefit us also & also our weapons becomes more battle proven & export will rise exponentially,see Indian gvt jitnavi advertisement kare ke Indian made weapons ka but the reality is that battle proven technology ka demand sabse jyada hota hai world me is liye USA, Russia, Israel,France, British made weapons are so advance & battle proven & also their weapons export is so high
@@SuperScarab nothing
@@abhiksarkar3829 seems like a waste of time and money to me, instead let US handle it
Good afternoon sir or mam
🇵🇰 🇪🇬 🇳🇬 3 brothers
Buy wheat from Russia, Australia & China in RMB. Leave the Dollars
Americans won't let them. Forced to use the dollar.
American 🇺🇸 Imperialism/ Socialism
SOcialism came because of so called American Imperialism... thus are the EUROPEANS colonizers....NATO LOOTERS
GO BRICS!!!! GO FREE WORLD!!! NO MORE IMF OR NATO LOOTERS!!!!
NONSENSE! America is against socialism. They have destabilised and overthrown socialist governments in the America's for 80 years; hence the tens of thousands at US southern border trying to escape poverty and lawlessness.
The IMF is a thief, They print Money for free gouvernement be wise you are kills your people because off the USA hegemony
And what is the news of the Indian economy 🇮🇳I think because of the large population, India is definitely experiencing economic crises.
Although if the cows were exported, they might be among the richest countries, but it is stupid that we are in the 21nd century and with You find that there are those who worship cows idols, even this famous and educated journalist worships Hindu cows, where are your minds?
Egypt the cradle of civilization now a joke?
By design read about Sisi you know it will get worse.
Before Military control they used to loan Great Britain after Military takeover a failed state.
And the poor suffer.Puppets on top purposely do this
😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂 stupid leaders
Thanks to their crumbling economy 😂😂. American ally no benefit from friendship
IMF always blackmail with loans, same USA blackmail with sanctions mean everything good for Americans if other countries they de value there currencies USA will get cheaper merchandise from other countries good for USA.
🪷
The Indian government and Modi should prioritize the establishment of additional public toilets nationwide as a crucial step in combatting the problem of public urination and defacement. This strategic initiative not only raises standards of hygiene and public health but also demonstrates a strong commitment to nurturing a more orderly and considerate society for everyone.
Ok ! Pakistan declared as public toilet from now onwards
It is imperative for the Indian government and Gobart Modi to significantly emphasize expanding the network of public toilets across the country, effectively tackling the issue of public urination and defacement. This proactive approach not only promotes improved hygiene and community well-being but also signifies a resolute dedication to creating a cleaner and more respectful environment for all citizens.
Giving paramount importance to the development of more public toilets across the country is essential for the Indian government and Gobart Modi to effectively address the ongoing issue of public urination and defacement. This initiative not only advances hygiene and public health but also reflects a deep-seated commitment to fostering a cleaner and more dignified environment for all citizens.
Dolar dünyanın baş belası.
I don't even want the money anymore... Moses said i can get a divorce....😑 How much is the value of a shekel at this point. My wife started panhandling in the White House...
5 B extra to support ISREAL not others sheets you says
Blackmail by western imf
if getting money from IMF is being blackmailing, don't sign the agreement , but then figure out how pay essentials like medicine, food and energy
50 Egyptian Pounds per Dollar 💵 is still better than 82 rupees per dollar. Can't blame them more.
But now the US has them by the balls 🤣
conversion rate doesn't give a full picture, for example 1USD=148 Japanese Yen
Japan and Korea currencies are much weaker😂😂😂
Egypt is now like Philippines in USD exchange rate😅
God punish for not helping your brothers and sisters
They did. And more than any other country in the world. 80% of the logistics and overall aid that went to Gaza since October the 12th 2023, which is worth $280 Mil was provided by the Egyptians. The scam and fake news media are baseless here. All proven and confirmed by the WHO and the UNRWA.
You meant God (USA) punishing Egypt for selling ammunition&bombs to invader Russia? Also trading with Chinese yaun with Chinese ally?
Israel and US will help them out .. they are alliances
It is essential for the Indian government and Modi to prioritize expanding access to public toilets nationwide to combat the challenge of public urination and defacement. This proactive measure not only promotes better hygiene and community well-being but also signifies a dedication to creating a more organized and respectful society for all.
The Indian government and Modi should prioritize the extensive construction of public toilets nationwide, effectively addressing the persistent challenge of public urination and defacement. This endeavor not only bolsters sanitation and public health but also underscores a steadfast commitment to fostering a more dignified and inclusive environment for all.
Go get Justin Trudeau and see if we can't sacrifice over this broken heart. I think we need to move Prime Minister's again. They're gonna try to play it out like Ukraine is fighting his wife's Mother and she ran to Egypt land. France can replace the Ukraine at this point.... 🏳️
📍 There is now a page 3/third document; containing my most brilliant ideas and innovation. I want its content to be used to enrich and accelerate the technological prowess of non-western countries!
I keep asking the madness of hand over your resources to bond seller. They are on the rampage . The crush is what they want . It means cheap access for bond seller. I can't believe this stupid. . 😂😂😂. I cant believe this .
📍📍 There is now a page 3/third document; containing my most brilliant ideas and innovation. I want its content to be used to enrich and accelerate the technological prowess of non-western countries!
📍 Egypt you disappoint! If you only prioritize the well being of the (genuinely) intelligent people within your country... You would not be in the dilemma you find yourself in, and you wouldn't be poor either! I used to read about how Egypt wasted their wealth and gold in the past... It was triggering!!! 💢😡😤
Perhaps, when the time comes all the brilliant ideas, technology and innovations I have stored for future Egypt... It will have to go elsewhere, i.e. To India and Russia, and to a lesser extent China. This will come to past in the not so distant future! I am still 27 years of age (and I've been storing all of my insights for the future since i was 25. My innovation are unique, well reasoned, effective and powerful when implemented).
I apologize, but when I observe these Arab Egyptian individuals, I find no resemblance to ancient Kemet.
It seems implausible that individuals with olive/white skin like theirs could have constructed pyramids under the scorching sun. (85 to 122 degree)
They not indigenous to Africa; instead, it seems they migrated from other countries into the continent.
The ancient Kemet people spent thousands of years exposed to the sun, constructing pyramids and temples without wearing shirts or leg coverings.
(4:01)Considering the current Governor of the Egyptian Central Bank, Hassan Abdalla, his skin would likely suffer from sun burn without adequate protection.
Palki.... how come you missed one very important point .... you have to blame china... .. ur favorite punching bag..... since you hv no issue with something call integrity..... you hv to blame everuthing to china😂
China actually is In Crisis whether you accept it or not
Bri is a Failed Project You also Know
How Much work done on. Ground Level Also China has Conflicts with 20 countries including Russia also Over Outer Manchuria
the economy of Egypt will be much better when they will help Palestine,, karma
Vote for BJP 🪷
Eygpt support Khalistan & Kashmir freedom from india
I replied here, so that *YOU* , yes *YOU* don't give any *ATTENTION* (as Charlie Puth says) to this spam acct.
palki, did you use toilet today morning ?
I mean Sometimes Truth Hurts 😊
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