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Sisi asks UAE to convince Kuwait to invest in Egypt

September 6, 2016 at 1:37 pm

Egyptian President Abdel Fattah Al-Sisi has urged the UAE to persuade the Kuwaiti government, along with other GCC countries, to pledge to commit billions of dollars to help Egypt.

This comes after the IMF refused to award Egypt a $12 billion loan unless guarantees are provided that $6 billion worth of investments from bilateral creditors have been found.

The Egyptian economy is in turmoil, claims the government vehemently denies. Al-Sisi’s regime has  criticised Bloomberg for reporting on its “failing economy”.