Egypt's Economic Crisis: Implications for Internal Stability, Regional Politics, and U.S. Policy

As President Sisi campaigns for a third term, Egypt faces soaring inflation, a weak currency, and crippling debt, while the military continues to dominate the economy and Cairo persists in borrowing for massive infrastructure projects and weapons procurement. Despite the mounting crisis, the government has resisted the reforms necessary for an IMF program that might reverse the plummet. What impact are these problems having in Egypt and abroad? And what can Washington do to prevent further deterioration?

To discuss these questions, The Washington Institute is pleased to announce a virtual Policy Forum with James Harmon, Nervana Mahmoud, and Medhat Nafei, moderated by David Schenker, the Institute’s Taube Senior Fellow and director of its Rubin Program on Arab Politics.

James Harmon is founding chairman of the Egyptian-American Enterprise Fund and chair of the Caravel Fund. Previously, he served as CEO of the Export-Import Bank of the United States (1997-2001).

Nervana Mahmoud is a British Egyptian doctor, regional observer, and independent commentator on Middle East issues. She began writing on regional issues after Egypt’s 2011 revolution and currently runs the influential blog and podcast This Week in Egypt.

Medhat Nafei is chairman of the Arab Alloys Company and an adjunct member of the economics and political sciences faculty at Cairo University. Previously, he served as deputy minister for corporate development at Egypt’s Ministry of Supply and Internal Trade.

The Policy Forum series is made possible through the generosity of the Florence and Robert Kaufman Family.