As part of the IMF deal, Egypt has been compelled to cut spending, which has led to increased prices for subsidized goods like electricity and bread, with a recent fuel price hike marking the third increase in 2024.

The country has reportedly lost between $6 billion and $7 billion in revenue over recent months, exacerbated by decreased traffic through the Suez Canal due to regional conflicts.

The recent Hamas attack on Israel has allowed Egypt to leverage the ensuing regional crises to enhance its geopolitical significance and financial interests.

Egypt's role in Middle Eastern diplomacy has diminished external criticism of its human rights violations, thereby empowering el-Sisi's regime amid ongoing scrutiny.

Critics have pointed out that President el-Sisi has secured a third term in the upcoming December 2023 presidential election through the repression of opposition candidates.

In light of its financial crisis, Egypt is seeking aid from regional partners, with high-ranking officials from countries like Saudi Arabia visiting for discussions on investments and support.

The Rafah crossing into Gaza has become a critical humanitarian access point, enhancing Egypt's standing with Washington through its cooperation with Israel.

Egypt's economy is grappling with significant turmoil, marked by inflation around 26% and a staggering rise in staple food prices by more than 70%, pushing one-third of the population into poverty.

Prime Minister Mostafa Madbouly has indicated that fuel prices will continue to rise gradually until the end of 2025, further straining household budgets.

Despite claims from Secretary of State Antony Blinken that Egypt is making progress on human rights, conditions have reportedly worsened.

President Abdel Fattah al-Sisi has indicated that Egypt may need to reassess its $8 billion International Monetary Fund (IMF) program due to extraordinary regional challenges and economic pressures affecting the nation's population of over 106 million.

Human rights organizations report that over 70,000 political prisoners are currently held in Egyptian jails, highlighting the country's troubling human rights record.