IMF calls on Egypt to solve economic problems that led to revolution
The International Monetary Fund on Tuesday called on Egypt to “look beyond the short term” and to address the economic problems that led to the outbreak of the revolution.
Meanwhile, talks between the IMF and Egypt over its loan request have been halted with the approach of the upcoming presidential election slated for next week.
In an interview published on the IMF’s website, Masood Ahmed, director of the IMF’s Middle East and Central Asia department, said, “Obviously, there is a range of short-term problems that must be addressed on the economic level, and it is very important to deal with them quickly and reliably.”
“But the real obstacle is to look beyond the short term and address the problems that caused the outbreak of the revolution in Egypt,” he said.
Earlier this year, Egypt requested a US$3.2 billion IMF loan. But failure to reach a political consensus in Egypt had a negative impact on the negotiations.
“There is political chaos,” Ahmed said. “So the big challenge for the Egyptians and the big challenge for the IMF through its support to the Egyptians is to try to find an economic strategy with application opportunities after the government is changed, which could happen within a few weeks,” when the new president takes office.
Almasry Alyoum
Video
Spot Lights
BBC SportWhen it's put to him that he might be the most talented athlete in the world to hold a racquet, a bashful Ramy Ashour admits "that's pretty great".The 25-year-old Egyptian is more than just the current squash world number one - his elastic, unorthodox brilliance and charisma could be the key to squash breaking out beyond its four walls and regaining a place on the wider sporting
Ministers in Prime Minister Hisham Qandil's cabinet following the recent reshuffle (new appointees are in italics): 1. Minister of Agriculture Ahmed Mahmoud Ali El-Gizawi2. Minister of Antiquities Ahmed Eissa3. Minister of Aviation Wael Maadawi4. Minister of Communication Atef Helmy5. Minister of Culture
AP— April 15, 2013: Two bombs explode in the packed streets near the finish line of the Boston Marathon, killing three people and injuring more than 140.— January 17, 2011: A backpack bomb is placed along a Martin Luther King Day parade route in Spokane, Washington, meant to kill and injure participants in a civil rights march, but is found and disabled before it can explode. White
The convenient marriage between Iran and the Arab left would have been unthinkable only a few years ago, given the traditional ideological paradoxes between patriarchal Persian Shiism, on the one hand, and leftist orthodoxy on the other.Indeed, a casual viewer of Hizbullah's Al-Manar television, or the Iranian-funded Al-Mayadin TV, these days would probably think that the two Shia propaganda
