Egypt's el-Sisi seeks financial support during Saudi Arabia visit.

1 min read
Source: Al Jazeera English
Egypt's el-Sisi seeks financial support during Saudi Arabia visit.
Photo: Al Jazeera English
TL;DR Summary

Egyptian President Abdel Fattah el-Sisi met with Saudi Arabia’s Crown Prince Mohammed bin Salman in Jeddah to discuss joint cooperation and regional developments amid Egypt's acute financial crisis. Saudi Arabia has been providing substantial financial support to Egypt, but recently signalled that it would no longer provide financial support to its allies without conditions attached. Egypt's dependency on wealthier Gulf countries deepened after it secured a $3bn loan from the International Monetary Fund (IMF) in December last year. The meeting comes amid a major diplomatic realignment in the region, including Saudi Arabia's landmark deal to restore ties with Iran and talks with Syria over the possible resumption of consular services.

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