Egypt’s Sisi heads to Saudi Arabia amid financial pressure, regional realignment – Reuters
- Date: 02-Apr-2023
- Source: Reuters
- Sector:Financial Markets
- Country:Egypt
Egypt’s Sisi heads to Saudi Arabia amid financial pressure, regional realignment – Reuters
CAIRO, April 2 (Reuters) - Egyptian President Abdel Fattah al-Sisi is travelling to Saudi Arabia on Sunday, according to three diplomatic sources, as Cairo continues to seek financial inflows to ease pressure on its currency and bolster a faltering economy.
Oil-rich Saudi Arabia has long provided financial support to Egypt but recently signalled it would no longer provide such backing without strings attached, which observers think may have sparked a rare media clash between the two countries.
The trip also comes amid a major diplomatic realignment in the region, with moves by Saudi Arabia and Egypt to ease tensions with Syria, Iran and Turkey.