Brief Summary
This YouTube video features a discussion about Egypt's economic challenges, particularly focusing on the impact of the International Monetary Fund (IMF) policies, government decisions regarding infrastructure projects, and the broader implications for Egyptian citizens. The speaker critiques the government's approach to economic reform, highlighting issues such as increasing taxes, selling state assets, and the burden on the average citizen. The video also touches on global economic factors and potential alternative strategies for Egypt.
- The IMF's role in Egypt's economic policies and their consequences.
- Government's infrastructure projects and their impact on citizens.
- Alternative economic strategies and the importance of citizen involvement.
Introduction
The speaker welcomes viewers from Cairo, other governorates, and those abroad, setting the stage for a discussion about the Egyptian pound and economic issues. The discussion will address the expected "stab" to the pound from the IMF in 2025, highlighting the government's lack of responsiveness in this area.
IMF Conditions and Privatization
The speaker discusses the IMF's conditions for Egypt, focusing on exiting economic activities and handing over leadership to the private sector. This directive was issued before, but the speaker questions the government's approach, particularly regarding infrastructure projects.
Infrastructure Projects and Alternatives
The speaker criticizes the government's handling of road maintenance, citing frequent closures without providing suitable alternatives. He contrasts this with countries like Germany and Türkiye, where toll roads have free alternatives. The speaker argues that the government, not the private sector, is responsible for the roads, leading to a lack of accountability.
Accountability and Public Investment
The speaker emphasizes that because the government builds the roads, there is no one to hold accountable for issues like accidents or closures. He contrasts this with private sector projects, where accountability is clearer. The speaker also notes that the IMF is against major public investments, preferring the private sector to handle such projects.
Presidential Directives and Road Maintenance
The speaker refers to a presidential directive that acknowledges the need to close the regional ring road for maintenance and provide safe alternatives. He questions the absence of these alternatives and highlights the directive for legal action against violators to enforce discipline on the roads. The speaker mentions that Egyptian builders, supervised by Lieutenant General Kamel Al-Wazir, can restore the road efficiently, referencing a similar situation in China.
IMF's Perspective and Economic Reform
The speaker discusses the IMF's view on Egypt's economic practices, noting that the IMF has been advising against certain investments and advocating for private sector involvement for years. The IMF wants Egypt to provide archives of spending, especially the 2 trillion spent, to prevent further economic issues.
Economic Reform and the Cost of Goods
The speaker illustrates the impact of economic reform on the average Egyptian by comparing the prices of goods before and after the reforms. For example, a pack of Marlboro cigarettes that cost 15 pounds in 2013 now costs 110 pounds. Similarly, the price of a male duck has increased from 100 pounds to 1000 pounds, making it unaffordable for many families.
Government Deficits and IMF Demands
The speaker explains that economic reform, in the government's view, is about paying off deficits. The IMF demands that Egypt cover 50% of the gaps in electricity, gas, and transportation costs. This leads to increased bills for citizens, affecting their ability to afford basic goods.
Exchange Rates and Global Factors
The speaker notes that the IMF is not directly involved in setting exchange rates in Egypt. He mentions that the dollar is currently at its lowest level in 34 years due to factors like Trump's policies and conflicts with Jerome Powell. However, he warns that if the dollar recovers, it could lead to the Egyptian pound falling to 60 pounds immediately.
IMF Reviews and Unfulfilled Pledges
The speaker discusses the status of the IMF's reviews of Egypt's economic progress, noting that the fourth review report has not been released due to unfulfilled pledges. These pledges include announcing an increase in electricity prices, which the President has delayed. The IMF also wants Egypt to sell land to fill the deficit, but the speaker argues that Egyptians are already filling the gap through taxes.
Selling Assets and Filling the Deficit
The speaker claims that the IMF wants Egypt to sell land or a bank to prove they are doing well. He notes that Egyptians will be paying higher electricity bills, even without an official announcement. The speaker says that the IMF's $1.2 billion is not new money but rather a way to fill cash unit gaps, as Egypt owes the IMF.
Frozen Funds and Selling State Assets
The speaker states that funds from the IMF, European Union, and World Bank are frozen for six months, pushing Egypt to sell its assets. He mentions the Bank of Cairo as a potential asset for sale and criticizes the idea of selling 609 state-owned companies, questioning the impact on the country.
International Support for Israel and Economic Implications
The speaker contrasts Egypt's situation with Israel, noting that while Egypt is being pressured to sell companies, Israel receives support from numerous international companies. He questions why the IMF is not asking Israel to sell its companies and float the shekel. The speaker references a report about companies supporting Israeli settlement projects and military efforts.
Companies Supporting Israeli Military Efforts
The speaker lists several major companies, including Microsoft, Google, Amazon, and IBM, that provide support to Israel's military, technology, and infrastructure. He questions why Egypt is being asked to sell its assets while these companies support Israel.
Egypt's Economic Situation and IMF Pressure
The speaker emphasizes that Egypt is not occupied and should not be treated like it is. He criticizes the deals with companies like Chevron, which transport gas to Egypt and support the Israeli army. The speaker argues that Türkiye creates alternatives for its children's ships and exploration, while Egypt is burdened with debt.
Structural Reform and Deficit Coverage
The speaker explains that the IMF's demand for structural reform is aimed at covering the deficit in Egypt's budget. He notes that the more the deficit increases, the more the dollar's price will increase. The speaker mentions that there will be a 2-dollar certificate for lands, but this is just a temporary fix.
Pound Stabbing and Black Market
The speaker argues that the IMF is the biggest "stabber" of the Egyptian pound. He notes that the happiest people with the news of the IMF's actions are those in the black market, who are preparing to buy and store gold and dollars. The speaker warns that after the postponement or freezing of the loan, classification authorities will give Egypt negative ratings, and debt insurance will rise.
Presidential Directive and Road Construction
The speaker refers to the presidential directive regarding road construction, stating that the current methods are not working. He questions why the work is not being given to specialized companies and suggests that King Kamel directly owns the company with the minister. The speaker notes that the end result is poor quality work and suffering for the citizens.
Maintenance Costs and Printing Money
The speaker questions where the money for road maintenance will come from, given the current economic situation. He notes that printing money will lead to a floating exchange rate and that the money has no real cover. The speaker argues that the private sector should be in charge of road construction, as their money will still be working even if they borrow from banks.
Economic Troubles and Rising Costs
The speaker highlights the economic troubles Egypt faces after spending 4 trillion on electricity and roads. He notes that transportation costs have increased 19 times in 10 years, and electricity bills have also risen dramatically. The speaker questions the value of the card collected on toll roads and calls for a free road for Egyptians who cannot afford the toll.
State Ownership Document and Selling Assets
The speaker mentions that Egypt is offering electricity, wind energy, solar energy, and gas stations for sale as part of the state ownership document. He questions how the money from these sales will be returned to the 2000 billion that was printed, and notes that the dollar has become more expensive.
CIB Ads and Economic Success
The speaker mentions that CIB is running ads featuring 90s artists and congratulates Hesham Ezz El Arab for winning the Best CEO award. He emphasizes that only the right thing is right and that Egypt will succeed if it implements the right policies, like Morocco and Türkiye.
IMF Loan and Pound Strength
The speaker argues that the loan with the IMF is not working and that Egypt cannot return the dollar. He questions how the pound can regain its strength if electricity prices are constantly being raised. The speaker criticizes the decision to raise fuel prices during Eid Al-Adha, calling it a "stab" to the pound.
Government's Role in the Economy
The speaker says that the Egyptian government should reduce its role in the economy, as the IMF suggests. He mentions that the government wants to leave Cairo Airport and other assets. The speaker criticizes the sovereign fund for taking buildings for free and then selling them, while the government pays 8 billion every year in rent in the capital.
Sovereign Fund and Debt Control
The speaker argues that if the buildings are sold, the government should use the money to buy shares in banks and companies. He questions where debts will be controlled from if the government sells its assets. The speaker says that financing is contingent on the fund's reform, but the Egyptian official's hand is too fast in floating the pound.
Fund Partners and Exchange Rates
The speaker says that the fund's partners are debt holders from countries who have their eye on banks, land, and the coast. He argues that there is no button to press for help in Egypt and that remittances from Egyptians abroad are used to pay off debts.
Selling Assets and Economic Consequences
The speaker warns that one day, Egyptians will not find a duck to eat and that there will be a shortage of schools and classes. He notes that the inflation rate is increasing and that people can no longer afford to buy the same amount of fruit as before. The speaker says that the IMF wants Egypt to sell assets because it is disgusted with the situation.
European Union and World Bank
The speaker says that there is no talk with the European Union or the World Bank because both are buyers in the IMF's program. He notes that all loans that Egypt borrows will need to be paid back, and that selling or allocating assets is just a way for them to guarantee their money.
Exchange Rate Stability and Debt
The speaker explains that lowering the exchange rate can lead to temporary stability, but that every year, the debt is higher than the year before. He warns that the next year will be difficult because Egypt already owes $57 billion.
Selling Land and Corporate War
The speaker argues that selling land will not help Egypt escape flotation and that the IMF will not accept this. He notes that depositors will try to take over banks and companies, but that if this were a good idea, Israel would have done it first. The speaker says that Israel preserves its companies because of the corporate war that will come when Iran strikes.
Microsoft and Cyber Warfare
The speaker questions why Israel hit a Microsoft building, noting that it provides them with work. He says that this is the link to the building that houses HP and that technology is important because of cyber warfare. The speaker questions why Egypt doesn't have an alternative to Microsoft and why it sells its companies instead of using them to make money and provide for its citizens.
IMF's Path and Economic Collapse
The speaker argues that the IMF does not take Egypt to a good path and that eventually, people will not have dollars. He warns that the price of the dollar will be high, but it will not be available. The speaker says that the IMF does not know about the economic issues in Egypt and questions where the economic reform bravado comes from.
Successful Programs and Failed Reforms
The speaker says that the IMF gave Egypt a loan of 12 billion in 2016, but the program was not successful. He argues that if the reform had succeeded, it would have been a long time ago. The speaker says that the IMF knows that Egypt is failing and that the IMF is the biggest link that brings together the fallen and maintains their fall.
Raising Services and Production
The speaker says that as long as Egypt agrees to raise services, production will remain low. He notes that raising prices leads to inflation and that the government wants to pay people money, but this just creates another wave of inflation. The speaker argues that certificates are useful for taking people's money and putting it in a place that has no value.
Egypt's Problems and the IMF
The speaker says that Egypt's problem is not the IMF, but rather internal issues. He notes that the price of a cigarette is 45 pounds, with 10 pounds being the cost and 35 pounds being taxes. The speaker says that the IMF wants to bridge cost gaps in service prices and increase taxes.
Roads and Private Sector
The speaker says that the IMF wants someone else to do the roads, meaning that roads are open for people to operate companies on the roads. He argues that the IMF does not want to waste money and start printing again. The speaker says that the IMF is making Egypt inflate and then filling the gap that was created by it.
Fuel Prices and Student Burden
The speaker questions why the government closed the slides and notes that the road monster has taken 8 billion pounds from Egypt over the years. He says that Kamel Al-Wazir tells him that he will fix it with 50 billion, but this will require raising fuel prices. The speaker questions who this is for, noting that it burdens students and employees.
Taxes and Services
The speaker says that the life of taxes is the increase that does not return and that citizens need more schools and educational services. He notes that financial inclusion is not working and that people are being robbed. The speaker argues that the IMF is just coming to lend money with medicine and conditions and that Egypt should not float its currency or do its own thing with its companies.
Guaranteed Efficiency and Competition
The speaker calls for guaranteed efficiency, competition, and good products, as well as guaranteed price stability. He suggests that the 14% tax should be zero for two months to flatter citizens. The speaker argues that the state should collect taxes from companies and that the market should be open.
Economic Evangelism and Gradual Flotation
The speaker recalls a time when economic evangelism led to a gradual flotation of the currency, but questions whether prices actually fell as a result. He challenges viewers to show him one product whose price has been reduced since then. The speaker notes that even blank paper has increased in price, while the value of money has decreased.
Economic Reform Bravado and Loan Success
The speaker questions where the economic reform bravado comes from, given that the IMF's loan in 2016 did not lead to success. He argues that the IMF knows that Egypt is failing and that the IMF is the biggest link that brings together the fallen and maintains their fall.
Technical Education and Debt
The speaker says that the problem is that Egypt is in technical education and needs to transfer to high school. He argues that the dollar is worthless, but that Egypt is lucky that Trump has put the dollar at 100. The speaker suggests that Egyptians should monitor their money in the banks and buy the Bank of Cairo and other companies.
Egyptian Ownership and Economic Benefits
The speaker argues that Egyptian companies should be owned by Egyptians and that the profits should benefit Egyptians. He suggests that if Egypt has a dollar crisis, Egyptians can provide the dollars to pay it off. The speaker says that this is the exit of the IMF and that it will lead to economic benefits for Egypt.
Suez Canal Expansion and Bank Purchase
The speaker questions why Egyptians don't buy a bank, referencing the Suez Canal expansion where Egyptians paid 60 billion pounds. He suggests that people should buy shares in the Bank of Cairo and other companies, and that this will lead to a 50% increase in their value.
Road Topic and International Companies
The speaker calls the road topic a shameful one and suggests that the government should have left the road to a German company to do it. He argues that international companies should build roads and take the money, and that this will lead to people winning.
Chinese Companies and Administrative Capital
The speaker says that Chinese companies' job is to build roads and that they should also build the administrative capital towers. He notes that the same Chinese people demanded 8 billion in compensation for the exchange rate difference with the float. The speaker argues that the IMF's loan is not a savior and that it is just a lifesaver for the officials.
Rating Agencies and Investment Banks
The speaker says that Egypt does not have the financial, economic, and investment performance to put in the face of rating agencies and investment banks. He argues that the IMF testifies that Egypt does not withdraw its certificate. The speaker questions why the government does not offer these companies to Egyptians to buy, as their money is in the banks and the government benefits from it.
Contractor and Builder
The speaker says that the government should not be a contractor and builder, as this leads to money draining away. He argues that the government should be a supervisor, manager, and monitor, but not the contractor. The speaker says that the IMF tells the government not to talk to anyone in Egypt.
IMF Dealings and Medical Assets
The speaker says that the IMF dealt with Egypt in a way that is not transparent and that there is no loan or dollar. He notes that the IMF is pressuring Egypt to sell its medical assets, but it has not sold them. The speaker says that the dollar must move, but the movement is not what is desired.
Prime Minister's Message and Debt Management
The speaker references a message from the Prime Minister of Egypt at an international conference, where he said that Egypt is delivering its message to the world by reforming the debt structure. The speaker argues that Egypt should fix its own structure first and calls for the creation of new mechanisms for sustainable debt management.
Six-Month Postponement and Economic Success
The speaker says that the six-month postponement is not the way and that Egypt has to fix things now. He argues that when Egypt succeeds with the IMF, it just avoids the floats of this year and the emergence of the black market. The speaker notes that the stability never exceeds three years.
Egyptian Importers and Manufacturers
The speaker says that the first thing that was estimated was the money of Egyptian importers and manufacturers. He notes that Tariq Amer, the Governor of the Central Bank, created restrictions and that people's money was frozen. The speaker says that this problem was not solved until the sale of Ras Al-Hikma.
Ministry of Housing and Land Sales
The speaker mentions that the Ministry of Housing issued a statement about selling lands for $11 billion. He notes that this is a very big number and that the head of wisdom is a shell. The speaker tries to get Dr. Sahar Zaki to talk about the issue of the closed regional road and the loan.
Economic Destruction and Mercenaries
Dr. Sahar Zaki joins the conversation and states that what is happening is not economics or politics, but rather destruction. She describes those involved as mercenaries who are likely not Egyptian.
Real Economy and IMF
Dr. Zaki defines the real economy as one that does not borrow or ask the IMF to fix it. She believes the current situation is not a coincidence and criticizes the quality of roads in Egypt compared to Canada.
Private Sector and Economic Control
Dr. Zaki argues that the private sector should be allowed to build infrastructure, but the current private sector is controlled by a small group of people. She believes that even the money from the IMF differs from what Egyptians earn.
Politicized Economy and Land Seizures
Dr. Zaki asserts that the economy is politicized to keep people in their place and that lands are being seized and sold cheaply. She believes that only a select few are benefiting from this.
Sawiris and Business Opportunities
Dr. Zaki questions why certain businessmen, like Sawiris, are still able to throw parties and leave the country with their money. She suggests that even those who come to invest are subject to conditions they don't want to agree to.
Canadian Economy and Political Sobriety
Dr. Zaki contrasts Egypt with Canada, noting that Canada has a conservative prime minister and former central banker who faces Trump with sobriety. She acknowledges that there are people in Canada living below the poverty line, but the main issue is that Egypt's economy is not being used correctly.
Tourism and Economic Potential
Dr. Zaki believes that Egypt has untapped potential in tourism, but it is not being used effectively. She notes that Egyptian tourists often pay more than foreign tourists and that the type of tourism being attracted is not bringing in significant revenue.
Economic Solutions and Accountability
Dr. Zaki suggests that the dollar could go down if certain needs were met and that investors in Egypt should be held accountable and pay taxes. She believes that factories should be brought back to normal and that the government should study how much profit these factories have made.
Confiscating Money and Restructuring Nations
Dr. Zaki proposes confiscating money from artists who have made billions and using it to pay taxes. She also suggests restructuring all nations and bringing back people who used to work for sixty years of pension.
Opening Lines and Bureaucracy
Dr. Zaki calls for opening all the lines that were closing and bringing back fruits like oranges and strawberries. She suggests opening a market in Africa and dropping all the laws that create bureaucracy for investors.
Hard Currency and Egyptian People
Dr. Zaki argues that investors should deal with hard currency and that the government should ensure that the Egyptian people benefit from it. She calls for confiscating money from artists who have made billions and using it to pay taxes.
Tax Authority and Government Relationship
Dr. Zaki references a conversation with the Ministry of Finance, where the Tax Authority said that their actions are being seen. She notes that the relationship between the government and those in the film and theater industry is bad and that taxes are being used for nothing.
Richest People in Egypt and Real Life
Dr. Zaki says that the richest people in Egypt are crazy about him and that if people saw actors in real life, they would realize they have nothing to do with what they see on camera. She argues that people have created gods out of these actors and that they have contributed to poverty.
Education and Artificial Intelligence
Dr. Zaki calls for the return of the book, medicine, and artificial intelligence. She argues that education should be accessible to everyone, even if they cannot go to school. Dr. Zaki notes that Egypt has solid programs and programmers and that the internet problem needs to be solved.
Education in Egypt and Canada
Dr. Zaki states that education in Egypt is much higher than in Canada and that people who study medicine or engineering in Egypt are 100 times better than what they are studying in Canada. She shares a story about her experience with doctors in Canada and notes that the education in Egypt is much higher.
Politicized Education and Experimental Schools
Dr. Zaki argues that there should be no politicized education and that the economy should be left to the people. She notes that people do not even know the names of the Minister of Economy, Minister of Finance, Minister of Investment, and Minister of Planning.
Medicine and Hotbeds of Corruption
Dr. Zaki says that medicine is finished and that there are hotbeds of corruption that have been created for many years. She argues that a certain class of society has made sure that killing, stealing, and looting are the norm.
Failed Artists and Egyptian People
Dr. Zaki says that the failed artists class has put values on people and that they are the ones who give the serum and the general form. She argues that the economy is supported by the Egyptian people and that they have the right to take what remains.
Brigadier General and Corruption
Dr. Zaki shares a story about a brigadier general who was responsible for answering most of them and had a car that would take them from their homes. She notes that this person was responsible for the blame and the touch in the airport and that his pension did not exceed 1500 pounds.
Pensions and Black Market
Dr. Zaki argues that the pension money was stolen and used to make marble and renew the Armed Forces Clubs. She says that this float did not happen just because the value of the pound is worthless, but because of corrupt people. Dr. Zaki notes that they are also participating in the black market and that they have names for these places.
Exchange Offices and Education
Dr. Zaki says that they exchange currencies in exchange offices and that even if you were the owner of your own exchange office, it would be closed. She notes that they operate a black market for everything, even schools and education.
Enlighten Our Brain and Small Water Drop
Dr. Zaki argues that the first investment is to enlighten our brain and that this is the goal of this page. She notes that the small water drop has become half a million in a year and that education is important.
Family and Agenda
Dr. Zaki says that family annoys these people and that it is important to learn and start making an agenda for yourself that you want to complete. She notes that it is powerful when she finds people understanding and getting out of the problem they are in.
Heaven and Egyptian People
Dr. Zaki argues that God did not create us to live a rosy life and that heaven is when we get tired. She says that the Egyptian people are smart and strong and that they have a tailor and a mechanic.
Invest in Children and Coloring by Hand
Dr. Zaki advises people not to invest in gold or the dollar, but rather in their children and themselves. She suggests that people should color by hand and that this will develop their brain cells.
Plastic Surgery and Psychological Pressure
Dr. Zaki argues that plastic surgery is not necessary and that the things that make the cells in the body grow are more important. She notes that people become disabled when all cells are dormant and that psychological pressure can lead to this.
Paper and Draw
Dr. Zaki
