Egyptian PM: IMF deal in 2 months
Prime Minister Hisham Qandil has said that the IMF loan for $ 4.8 billion should be completed in 2 months according to AFP. He is also looking for a joint loan from the World Bank and the African Development bank that would total $1 billion.
Source : https://www.marocafrik.com/english/Egyptian-PM-IMF...
This follows the announcement of an $ 18 billion loan over five years by Qatar and an additional $2 billion paid into the Central Bank as well as a loan form Saudi Arabia. The united States is said to be close to finalising a £I billion loan package.
Campaigners have critcised the IMF loan saying it would perpetuate the "worst excesses" of the Mubarak regime including privatisations,depleted services and corruption. Senior clerics within the Muslim Brotherhood and the Salafist parties have argued that loans should not be accepted from non islamic countries because of usury.
Campaigners have critcised the IMF loan saying it would perpetuate the "worst excesses" of the Mubarak regime including privatisations,depleted services and corruption. Senior clerics within the Muslim Brotherhood and the Salafist parties have argued that loans should not be accepted from non islamic countries because of usury.
Source : https://www.marocafrik.com/english/Egyptian-PM-IMF...