☆ Yσɠƚԋσʂ ☆@lemmy.ml to World News@lemmy.mlEnglish · 8 months agoEgypt Officially Ditches US Dollar For Tradewatcher.guruexternal-linkmessage-square5fedilinkarrow-up140arrow-down15
arrow-up135arrow-down1external-linkEgypt Officially Ditches US Dollar For Tradewatcher.guru☆ Yσɠƚԋσʂ ☆@lemmy.ml to World News@lemmy.mlEnglish · 8 months agomessage-square5fedilink
minus-square☆ Yσɠƚԋσʂ ☆@lemmy.mlOPlinkfedilinkarrow-up6arrow-down5·8 months agoEgypt can just default on their USD debt and then get refinanced via BRICS which solves absolutely everything.
minus-squaresun_is_ralinkfedilinkEnglisharrow-up1·8 months agoAfter you default, chances of getting loan is very low and if you get one, the interest rate would be redicilous
minus-square☆ Yσɠƚԋσʂ ☆@lemmy.mlOPlinkfedilinkarrow-up2arrow-down2·8 months agoThat’s why Egypt wouldn’t be getting more loans from western banks.
Egypt can just default on their USD debt and then get refinanced via BRICS which solves absolutely everything.
After you default, chances of getting loan is very low and if you get one, the interest rate would be redicilous
That’s why Egypt wouldn’t be getting more loans from western banks.