The plan to besiege Egypt has now begun. What happens behind the scenes?

Some time ago we were the first to tell you that a major plan is being prepared to block Egypt and punish the country for its position in rejecting the movement of Palestinians from Gaza to Sinai. We have revealed that this plan affects President Sisi personally, because of his historic stance on exposing the West’s conspiracies and ruining the plans that are taking place behind the scenes, and the plans that are being prepared to liquidate the Palestinian narrative and to export a bigger problem to Egypt… the implementation of the plan to block Egypt has already started, and the plan depends mainly on the economy and the pound… So what will happen? Why do Western countries want to destroy Egypt economically and what mechanisms do they rely on? Why do foreign campaigns against the Egyptian economy specifically target the pound? Are the circumstances as tragic as reports from international institutions say?

If you notice, in the past week there has been more than one report on the Egyptian economy from international financial institutions, all of which believe that the Egyptian economy is suffering and that the price of the pound will experience a historic decline within a few days. All these reports appeared simultaneously with Egypt’s insistence on refusing to liquidate the Palestinian cause at Egypt’s expense by expelling the population of the Gaza Strip to Sinai. This is the plan whose implementation is overseen by the United States of America and has the support of most Western capitals. Over the past week, Egypt has been subjected to unprecedented pressure, sometimes by persuasion and sometimes by intimidation, to agree to transfer the people of Gaza to Sinai… but Egypt rejected all pressure. She stuck to her position in support of the Palestinian cause, and we all saw Egypt threaten for the first time that what was being planned could drag it into war with Israel. We also saw Egypt deny entry of US citizenship holders from the Rafah crossing, except as part of a broader agreement to provide humanitarian aid to the people of Gaza.

Of course, the Egyptian position does not like the major colonial countries that provide unlimited support to the Zionist occupation state, and here is the scenario of blocking Egypt and hitting it with economic reports that reveal targets that we are all aware of. In any report from any international institution, you will see it talking about the devaluation of the pound and the possibilities of Egypt’s failure… to meet its external obligations, even though Egypt’s economic situation has never reaches this stage

I mean, our economic situation is bad and these institutions are lying?

No sir. Our situation is not in the best condition, and you can say that it is a very difficult situation, but the reports that are coming out are not aimed at reforming the economic situation, nor do they come out for any specific purpose. “, which is intended to pressure Egypt to implement the American and Zionist plans. Unfortunately, these reports continue to yield results as long as the dollar is on the market. On the last day, the price witnessed unprecedented increases… it Egyptian pound and is on its way to reaching new record levels not previously reached in the history of Egypt, which for many reasons coincides with the increase in demand for foreign currency.

Of course, because of these reports and now that two postponed reviews are underway regarding the financing program agreed with the International Monetary Fund, which is expected to coincide with a reduction in the official exchange rate of the pound, in addition to the geopolitical tensions the region flared up with the continuation of the war in the Gaza Strip, many people are trying to hedge against the depreciation of the currency by buying the dollar as a safe haven. Therefore, as soon as a negative report on the future of the Egyptian currency is published, there will be noticeable activity on the black market for the dollar, and with this activity the price of the US currency rises.

The price of the dollar on the black market was affected by the rise in futures contracts for the pound above the level of 45 against the dollar, in addition to the downgrade of Egypt’s credit rating by Standard & Poor’s, which last Friday announced the downgrade of the American credit rating announced. Egypt’s long-term local and foreign currency sovereign debt rating rose from B to – B with a stable outlook, and this came two weeks after Moody’s decision to downgrade Egypt’s sovereign debt to Caa1 from B3.

Standard & Poor’s indicated in its report that inflationary pressures would continue at high levels and expected a further weakening of the pound’s exchange rate against foreign currencies. It said the fallout from the currency crisis would cause GDP growth to slow further in the fiscal years. year 2024. It determined that its prospects for the country are “stable”.

Naturally, it is highly expected that Fitch will follow the path of Moody’s and Standard & Poor’s and also downgrade Egypt’s rating in its report due early next month.

Everything that happens is not a coincidence or a consequence. No, this is a systematic campaign aimed at putting the greatest pressure on Egypt, especially since one of the offers made to Egypt to approve the deal to transfer the Palestinians to Gaza was to pay Egypt’s debts in exchange for housing the population of Gaza in Sinai, which Egypt categorically rejected