Egypt is at the “ideological center” of the ongoing dispute between Qatar and its neighbouring GCC countries, Karen E Young writes for the Washington Post. Young says the dispute, in many ways, is about the “exercise of economic statecraft.” She mentions the economic aid from the GCC to Egypt as well as its importing of Qatari LNG, but also that Egypt is “a test case of some of the austerity measures the GCC states need to implement at home… a test case of how society responds to mechanisms of economic governance at the behest of a strong security state.” She says “for now, investment in Egypt’s political stability and economic growth remains a foreign policy priority of the UAE and Saudi Arabia.”
More from Enterprise
The digital EGP won’t look different at checkout — but it will work nothing like InstaPay
Every instant payment today depends on your bank or telco.…
Granite is about to test whether Egypt’s funds still need administrators
The asset manager and blockchain builder Tarmiiz have entered the…
Egypt is fixing how deals get executed, but what pushes investors offshore runs deeper than the reforms on the table
Investment Ministry and a Senate committee are both moving to…
Egyptian-UK fintech Zeal raises USD 10 mn to back expansion plans
The London-based, Egyptian-founded fintech is preparing to activate its loyalty…