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date | event | tags | firsts |
1876 - 1882
188- |
Egypt had mounting debts and a financial crisis which had been exacerbated by the construction of the Suez Canal and the extravagant spending of Egypt's ruling khedive, Isma'il Pasha. To finance modernization projects and the Canal, he had borrowed extensively from European powers and banks. The debt burden became unsustainable, and Egypt was on the verge of bankruptcy. in 1876 Britain and France, the major creditors, had established a Commission of the Public Debt to oversee Egypt's finances and to ensure repayment.
In 1879 Britain and France agree to take joint control of Egypt's administration, know as "Dual Control" with Britain often controlling the more influential positions. This measure was taken partially our of fear that there would be a complete collapse of Egypt's government and financial system. This imposition dual control faced opposition from many Egyptians who perceived it as foreign interference in their country's affairs. This period contributed to the rise of nationalist sentiments in Egypt and calls for greater Egyptian autonomy and independence from foreign control. Dual control lasted until 1882 when British forces effectively took control of Egypt during the Urabi Revolt, further solidifying British dominance in the country. Egypt was technically still part of the Ottoman Empire at this time, but in reality, it became a British protectorate, leading to a prolonged period of British influence over Egyptian affairs. [Wikipedia] |
Colonialism and imperialism; Egypt; History (general) |
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