COVID-19 has disrupted both supply and demand around the world. Egypt is not immune to the recessionary trends caused by the sudden halt in supply chains and the sharp decline in demand, domestically and globally, resulting from the rapid spread of the virus.
No part of the world will emerge unscathed from the fallout of the coronavirus pandemic of 2020. Just because China and Italy were the first to be severely hit, does not imply, that when all is said and done, that they will have sustained the brunt of the damage. North Africa is a region dependent on global commodities prices, tourism, and political and monetary support from Europe and the Gulf, where regime brittleness, youth unemployment, and Islamic radicalism all intersect.
11 scholars and experts from across MEI weigh in with the latest on how the coronavirus pandemic is affecting the Middle East.
From Morocco to Afghanistan, the scholars and experts at MEI take a closer look at how the COVID-19 coronavirus pandemic is affecting the Middle East.
The most populous country in the Arab world, with 100 million people straining its seams, Egypt has weaknesses that make it susceptible to a serious outbreak of COVID-19.
There has been a largely overlooked yet significant trend in entrepreneurship in Egypt, the Arab world’s most populous country. Much of this has been concentrated in the country’s two main economic centers, Cairo and Alexandria, but there are also signs of a broader and more inclusive trend. Despite this boom, few start-ups seem to have left much of a mark beyond the early development stages. A lack of access to finance has long been recognized as a key obstacle, yet the approaches taken by the government and international development lenders have proven largely ineffective. If this, along with other obstacles, can be addressed, the country’s nascent start-up scene could become a catalyst for economic development.
Egypt’s burgeoning population is one of the biggest threats to its future.
The eastern Mediterranean has become an increasingly important focus for Turkey’s foreign and security policy, but the interlocking of new issues like energy politics and sovereignty rights with old problems like Cyprus has created significant challenges for Ankara.
The green movement has been slow to catch on in Egypt, but the January announcement by the Egyptian government that it is finalizing plans to launch the country’s first green bonds could provide the financial incentives to further promote sustainable development. “Sustainability” is one of the fastest growing sectors globally, estimated to reach as much as $12 trillion annually by 2030.
As Egypt’s presidency of the AU comes to an end, it will have to maintain its focus on Africa to prove that it was not a one-time effort.
Egypt has realized a significant number of changes in healthcare, education, and economic reform policy over the past decade. It is also increasingly looking toward policy for development that emphasizes cohesive problem solving, in line with its Vision 2030 strategy, which highlights the need for positive knock-on effects from investments in human development
The latest talks in Washington brought about some concrete, and cautiously welcome, results.
Accomplished craftspeople are a dying breed in Cairo, but Jameel House of Traditional Arts and Atelier Cairo are working to change that by training a new generation of artisans in traditional media like ceramics, wood, brass, glass, and gypsum work (stucco), helping to replenish the stock of skilled Egyptian craftspeople and keeping rare and beautiful art forms alive.
It is profoundly in the interest of the U.S. to help all three countries arrive at an amicable working solution.
While the world is engaged in an ongoing discussion about the ramifications of the trade war between Washington, DC and Beijing, the economies of the Middle East are shifting away from their longstanding ties with the U.S. toward economically powerful China. This may have long-term implications for economic and political dynamics in the region.