Orient Weekly Watch: CSIORS Edition - Friday, December 22th, 2023

Zawya.com: Indonesian Foreign Minister Commences Africa Tour, Initiates Discussions on Economic Collaboration in Algeria

Indonesia's Foreign Minister, Retno Marsudi, visited Algeria to enhance 60-year bilateral ties, emphasizing trade and investment growth. Algeria, a top-five African trading partner for Indonesia, saw discussions on trade, energy collaboration, and the reactivation of bilateral mechanisms. Pertamina's substantial investment in Algeria's energy sector and mutual stances on global issues, including Palestinian concerns, were key diplomatic points.

Economymiddleeast.com: Egypt's Central Bank Maintains Unchanged Interest Rates for the Third Consecutive Time

The Central Bank of Egypt (CBE) maintained interest rates for the third time, citing global economic slowdown and geopolitical uncertainties. While global commodity prices, especially energy, decreased, domestic GDP growth slowed due to reduced investment. The CBE projects further deceleration in GDP growth for 2023/2024 but emphasizes ongoing assessment and commitment to restrictive monetary conditions.

Middleeasteye.net: Turkey's top lawmaker suggests the possibility of accelerating the vote on Sweden's NATO bid as early as next week.

Turkey's parliamentary vote on Sweden's NATO membership ratification may occur next week, according to Fuat Oktay, a key lawmaker. Oktay suggests the foreign relations committee could swiftly approve the protocol as a goodwill gesture. Turkey seeks more action from Sweden on counterterrorism, particularly related to the PKK. Western diplomats anticipate parliamentary approval before the new year, noting positive signs after the recent Erdogan-Biden phone call. Oktay had downplayed a connection between Sweden's NATO bid and Turkey's F-16 purchase but acknowledged Erdogan's linkage in a recent interview. Delays are attributed to various issues, including protests and anti-Turkey demonstrations in Stockholm. Oktay emphasizes the need for trust and convincing actions in the process.