A prominent Egyptian TV host has issued a dramatic warning that Egypt is approaching a “bankruptcy stage,” struggling to meet its growing debt obligations amid a deepening economic crisis.
Speaking on his widely watched program, leading journalist Amr Adib described a dire financial situation, saying Egypt may soon be unable to service its external debt, which has surged past $160 billion.
He stressed that the country now needs a “miracle” to overcome the crisis, as conventional economic measures are no longer sufficient.
Adib also called for the cancellation of debts accumulated during the era of former President Hosni Mubarak, pointing to a historical precedent from 1991, when Western nations forgave a significant portion of Egypt’s debt following its role in the Gulf War coalition.
