British involvement in Egypt Flashcards
1
Q
What did Britain do after the canal completion in 1869?
A
British banks offered loans to egyptian govt
2
Q
How did Britain offer loans to egyptian govt?
A
They were funded by people in brit giving money to govt. via bonds
3
Q
How much debt did Egypt gain between 1863 to 1879?
A
£3 million to £100 million
4
Q
How much did the interest rate on debt grow from and to?
A
7% to 20%
5
Q
What happened by 1875?
A
Egypt had a debt crisis, that threatened economic collapse
