Egypt: Sponsors warn of default risk on Benban debt unless Cairo provides access to dollars

Egypt’s Prime Minister Mustafa Madbouly and Central Bank of Egypt governor Hassan Abdalla face an imminent decision on whether to allow the operators of solar power projects at the Benban Solar Farm to convert Egyptian pound profits into dollars so they can meet a mid-July debt repayment deadline. At stake are both short-term financial stability and long-term credibility.