Three countries still believe in the conflicted country of Egypt. These nations - the Kingdom of Saudi Arabia, Kuwait, and the United Arab Emirates, expressed their support towards the Egypt saying that the North African country is "too big to fail."
Billions of dollars' worth of investment aid was announced by the three countries in relation to the ongoing coup d'etat in Egypt.
Countless problems are currently being faced by Egypt. Tourism figures plummeted. Foreign direct investments went close to nil. Foreign currency reserves are nearing total depletion. Jobs are nonexistent for new youth, and prices of commodities are skyrocketing.
President of the Signet Institute Angus Blair said, "The main issue affecting the poor is the fact that inflation is so high."
The three Middle Eastern countries pledged a total of US$12 billion in foreign aid. Former finance minister Hazem el Beblaw was hailed as the interim prime minister.
"I think he'll take brave decisions and even though this is an interim government he'll put people of competence around him but really focus on boosting the economy," said Blair regarding Beblawi's appointment.
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