A leaked document written by Gila Gamaliel, the Israeli intelligence minister, came to light in late October amid the devastating war in Gaza.

It set out a proposal to relocate the residents of Gaza to Sinai (Egypt) as a solution “which will produce positive long-term strategic results”. But how could Egypt accept such a solution when most of its population appears to be pro-Palestinian?

The answer can be found in the world of macroeconomics: debt.

After being revealed by the Israeli newspaper Calcalist and WikiLeaks, the proposal is getting attention in the Israeli and Egyptian critical press. Tel Aviv appears to be in talks with Egyptian president Abdel Fattah al-Sisi about Egypt taking in Gazans and settling them in Sinai, in exchange for the cancellation of all its debts to the World Bank.

This could mean the Israeli government would take on the debts Egypt owes to multilateral creditors (such as the World Bank, the International Monetary Fund etc.) or that (with the support of the United States) it would convince allied Western countries to write off Egyptian debts to national institutions

Hope Egypt doesnt fall for this

  • fruityloop [they/them]
    ·
    1 year ago

    hopefully elsisi likes having his head attached to his neck more than the cancellation of debts.