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.
Saudi Arabia and its Gulf allies have repeatedly come to Egypt's help since Sisi led the ouster of Mohamed Mursi of the Muslim Brotherhood a decade ago.were exposed and exacerbated by the fallout from the war in Ukraine last year, Saudi Arabia, the United Arab Emirates and Qatar made deposits in Egypt's central bank and pledged major new investments.
Egypt signed a $3 billion rescue plan with the International Monetary Fund in December that targeted $9.7 billion in foreign direct investment in the financial year ending in June 2023. Reporting by Mohamed Waly, Mohamed Ahmed Hassan and Aziz El Yaakoubi Writing by Aidan Lewis; Editing by Sharon Singleton
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