This week’s briefing on recent news and upcoming events in the region featuring Dara Conduit, Marvin G. Weinbaum, Mark Heller, Syed Mohammad Ali, Gonul Tol, and Guled Ahmed.
Today marks almost three months of a global shutdown to curb the spread of the COVID-19 pandemic, and the Middle East and North Africa region faces a double whammy from the resulting economic fallout and the sharp decline in oil prices this spring. While Egypt is rightly focused on its short-term response to the crisis, it should take advantage of the international and regional shock caused by the pandemic to change its growth model for the longer term and implement much-needed structural reforms on a variety of fronts.
The lockdown conditions have meant that demand for the services of informal market laborers has declined, leaving them with no means of making a living and no form of insurance or savings to fall back on.
Absent major military escalation by his foreign patrons, Khalifa Hifter has now lost the war he initiated against Libya’s internationally recognized government in Tripoli. The question remains, however, of how to end Libya’s proxy war and restart the necessary political process to bring about sustained peace.
Mirette Mabrouk and Dr. Sherif Kamel join host Alistair Taylor to discuss Egypt’s economy and the role of entrepreneurship. Like countries across the Middle East and North Africa, Egypt has been hit hard by the coronavirus pandemic and the economic fallout is likely to be severe.
A possible influx of returnees from the Gulf swelling the ranks of the unemployed is bad enough, but it also comes with a serious complication — the possible loss of remittances.
Despite an unprecedented global slump, this is hardly an ideal time to cut into social spending.
For Jordan Israeli annexation of Jewish settlements in the West Bank, as well as the strategically important Jordan Valley, constitutes an existential threat to the kingdom. But now Jordan faces unprecedented economic hardship as a consequence of the coronavirus crisis, and this could limit its scope for action.
It’s difficult to overstate the importance of the Canal to the international shipping trade, but it’s importance to Egypt economy is even greater still.
Climbing unemployment is a major specter for Egypt.
The April 20 Netanyahu-Gantz agreement legitimized the possibility of an Israeli law that will act as a unilateral annexation of parts of the West Bank to start as early as July 1, based on the controversial Trump Middle East plan. Articles 28 and 29 of the deal condition such annexation on the “consent of the Trump administration” and note that such a move would only be possible if the annexation preserves “the security and strategic interests of the state of Israel including the need to keep regional stability, keep existing peace agreements, and pursue future peace agreements.”
The amendments have been designed to provide relief on both the individual and corporate levels.
This is not the time to hang out the “Mission Accomplished” banner for the MFO. At a nominal cost to the U.S. in money and manpower, for nearly 40 years, the mission has been a phenomenal success. At a time when the U.S. commitment to the region is being viewed with increasing skepticism, the MFO is a prime example of U.S. capacity to organize and lead a multinational effort to support regional security and stability.
Egypt’s three top sources of foreign revenue — tourism, remittances, and the Suez Canal — are likely to be hard hit by the crisis.
The Sinai-based Multinational Force & Observers (MFO) will soon celebrate its 41st anniversary. Like most of what the MFO does, recognition will be low key and understated. The MFO has always operated under the radar, but this may soon be changing.