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Morsi will not meet IMF delegation: Egyptian presidential spokesman
Omar Amer says that 'real negotiations are taking place' to change the value of a prospective IMF loan, while tens of protesters reject IMF financing Wednesday, saying it will harm the country
Ahram Online, Wednesday 3 Apr 2013
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Morsi and Lagarde
Egypt's President Mohamed Morsi (R) speaks with IMF Managing Director Christine Lagarde (Photo: Reuters)

Commissioned minister and Presidential Spokesman Omar Amer said Wednesday that President Mohamed Morsi "will not meet with the International Monetary Fund (IMF) delegation” visiting Egypt, according to Al-Ahram Arabic-language news website.

The delegation arrived Tuesday to resume negotiations with the Egyptian government over a planned $4.8 billion loan.

Amer explained during Wednesday’s press conference at the Presidential Palace that “There are real negotiations to change the loan’s value, because Egypt’s needs have changed over the last period, and the economic situation.”

Amer’s statement came after tens of protesters gathered in front of the High Court in central Cairo Wednesday and marched to Talaat Harb Square, in Downtown, to express their rejection of the planned IMF loan, which is yet to be signed.

Loan under fire

Ahram Online reporter Mai Shaheen reported that “The Revolutionary Socialists, the Mina Daniel Movement, the Egyptian Popular Current and a number of activists, including Khaled Ali, were mainly there to reject the loan. Protesters held posters stating the revolution continues.”

“There were no Islamists, of course,” she added.

Earlier Wednesday, the Popular Socialist Alliance (PSA) and the Egyptian Popular Current issued a statement rejecting the planned IMF loan. The Popular Socialist Alliance argued that the negative consequences of the loan have already been seen, giving the example of the rise incooking gas prices Monday, “coinciding with the arrival of the IMF delegation to Cairo Tuesday.”

Amer said in response to the increased prices of some commodities that “The president’s last meeting with D. Bassem Oudah, minister of supply, emphasised the criticality of working to ease the burden on the majority of citizens; to meet all their needs and take into consideration the social dimension in all governmental decisions.” 

“The government is doing its best to meet the citizens needs,” he added.

The PSA accused “the Muslim Brotherhood’s government” of embracing the same economic and political policies as Mubarak’s regime — policies that sparked the January 25 Revolution — calling on them to find alternatives that will ensure social justice.

Who can sign the IMF loan?

Renowned lawyer and leftist activist Khaled Ali filed a complaint against the president, the head of the Shura Council, the Council of Ministers, and the minister of finance for trying to pass the IMF loan without the agreement of the House of Representatives.

The prosecutor-general referred the complaint to the Supreme State Security Prosecution to investigate the charges Wednesday.

Ali said in the complaint: “The House of Representatives is the only entity that has the legal authority to agree to the law. The other entities are trying to reverse social and economic state policies.”

“The Shura Council is not competent to agree on the law. Article 230 in the constitution gives legislative powers to the Council and not the authority to agree on any international agreements like the IMF loan. These authorities are given only to the House of Representatives,” Ali explained. 

Parliamentary elections

Presidential Spokesman Amer refuted any relationship between the IMF loan and upcoming parliamentary elections. “It is difficult to deduce a connection between holding parliamentary elections and the IMF granting Egypt the loan,” he said.

Elections for Egypt's lower house of parliament, which was dissolved in June 2012, were scheduled to start 22 April until a court ruling deemed the present electoral law to be unconstitutional, forcing the Supreme Electoral Commission to scrap its initial timetable.





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5



mark
05-04-2013 05:23pm
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£4.8bln?
Is the final sum going to be $4.8bln or the depreciation of the EGP had any effect on the loan amount.
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4



mark
05-04-2013 05:12pm
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Probably for the best
Face it Morsi, will probably make some kind of faux pas and mess things up let him stick to his speciality, What was that again? oh yeah Rocket Science just what Egypt needs.
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3



AG
04-04-2013 07:04am
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How about he's leaving his economists to do it?
The president doesn't have an economics degree, and he doesn't need one. Rather he's letting other people do the negotiations. You guys really need to let go of the image of a leader that does everything himself, that's called a dictatorship. He needs to apply himself where his skills are needed and doesn't need to be negotiating the minute details of an IMF loan. That said, the IMF is a horrible institution and getting a loan from them is probably a bad idea. Chances are they will use it to force Egypt to adopts economic practices that suit it's needs/goals for the world but not Egypts. It'll turn Egypt into a slave of the IMF. I dislike this plan.
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2



Roslyn
03-04-2013 09:59pm
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19+
Get your priorites into order!
This President needs not to just get his priorities right but he badly needs a course on etiquette, he is now the President of 'all' of Egypt, and yes we needed the loan yesterday! Yet he has time to bother himself with the media and all of the petty issues! So sad for Egypt.
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Hector M
06-04-2013 09:15pm
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Roslyn Morsi has his priorites into order, you should get your in order, just dont blah blah
Very soon Egypt will not need IMF, just like Turkey. Egypt's economy will thrive shortly, and Egypt will kickout IMF. IMF is using Muslims countries dictators money and loan to Muslims to enslave them. Soon those brain dead dictators will be deposed.
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medo
03-04-2013 08:09pm
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LOL!
Is that meant to be a snub to the committee? We need their money and the president can't even be bothered to meet them? LOL!
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