Ah, Egypt and its CBDC plans. The introduction of a CBDC in a country with critical human rights issues and corruption? Well, it's like trying to put out a fire with gasoline. On one hand, the CBDC could potentially provide some benefits like improved transparency in financial transactions or more efficient cross-border payments. But let's be real here, the risks are just too great.
With a government that heavily oppresses criticisms and harasses organizations standing up for human rights, giving them more control over citizens' transactions is like handing an arsonist a flamethrower. It could further enable surveillance, control dissenting voices even more effectively, and facilitate corruption on an unprecedented scale.
Sure, you can argue that implementing stringent regulations and oversight mechanisms might mitigate some of these risks. But when the very institutions responsible for combating corruption are themselves corrupt, it's like expecting Voldemort to turn into Mother Teresa overnight.
So unless Egypt undergoes significant reforms in terms of human rights protection and addresses its rampant corruption issue head-on (like seriously tackling it rather than just pretending), introducing a CBDC will likely do little to improve the situation. In fact, it might exacerbate the existing societal problems even further.
But hey, who needs financial freedom when you have oppressive regimes looking out for your best interests? Oh wait... nobody!