El-Sadat Calls Parties for a Meeting Discussing the IMF Loan

Mr. Anwar El-Sadat, Head of Reform and Development Party (RDP) calls Heads of Parties and the political power represented in the parliament to an urgent meeting to discuss the current negotiations. Such negotiations are taking place between Egypt's government and the International Monetary Fund (IMF) on a financing program to loan Egypt 21 billion dollars for 3 years. 

El-Sadat's call for a meeting is aftermath his demand to let all the Egyptians participate in a public discussion on the economic program and the procedures that will be imposed by the IMF. Such procedures will affect gravely the Middle Class and it may cause more suffering to most of the Egyptians.

El-Sadat is stressing that this urgent meeting is of paramount importance to share opinions and try to reach a financial and monetary reform plan. Such plan will be submitted to the parliament for review. After that the parliament will be the responsible and will bear the responsibility for approving or rejecting the plan. Finally, Sadat highlights that the parties and the political powers should communicate with the IMF representatives in Egypt to know the rules and procedures that the IMF will set for approving the financing program.


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