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Demonstration request for resignation of president in Egypt

2019-09-23T04:25:35.376Z

[Cairo 22nd Reuters]-The EGX100 index <.EGX100> plummeted 5% in the Egyptian stock market on the 22nd, and the stock exchange suspended the transaction. Analysts are talking about a sharp drop in stock prices on the weekend in Cairo



[Cairo 22nd Reuters]-The EGX100 index <.EGX100> plummeted 5% in the Egyptian stock market on the 22nd, and the stock exchange suspended the transaction. Analysts have pointed out that the stock price decline was caused by a demonstration that demanded President Sissi's resignation in Cairo on weekends.

It is the first time since 2016 that Egypt has taken up the economic restructuring plan backed by the International Monetary Fund (IMF).

“There is no doubt that this has been influenced by a little more tension over the weekend and increased investor vigilance,” said Ashram Acnouk, director of Alkam Capital.

The main stock index EGX30 <.EGX30> closed on March 22 with a 5.3% decline.

According to sightings, Cairo, Alexandria along the Mediterranean Sea, Suez along the Red Sea, etc., on the 20th, received a post on the Internet calling for a government protest against corruption. .

The protests are extremely unusual in Egypt, which has strengthened anti-government politics after taking office as President Sissi in 2013.

In Cairo, security forces used tear gas to move the demonstrators out of force, but many young people stayed on the streets and demanded President Sissi's resignation.

A small demonstration occurred on the 21st in Suez. According to sighting information, on the 22nd, security forces embarked on tear gas to eliminate the demonstrators in the central square, and the square was blocked.

Such a demonstration was triggered by an Egyptian businessman residing in Spain calling out a demonstration by pointing out President Sissi and military corruption in a series of videos. President Sisi denies allegations.

Source: asahi

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