El-Sadat Calls The Leaders Of The Gulf Cooperation Council For An Emergency Meeting To Deposit $ 25 Billion In Egypt

Rather than the direction of the Egyptian government towards accepting loans with difficult terms, obligations and commitments to impose taxes just to get 4.8 billion Dollars from the International Monetary Fund (IMF), Anwar El-Sadat (Head of the Reform and Development Party) launched today a call for the Egyptian government to extend an invitation to the leaders of the Gulf Cooperation Council for holding an emergency meeting to consent the remittance of 25 billion Dollars as a deposit from their surpluses to be placed in the central bank for 5 years without interest to help boost the Egyptian economy without any costs and to be paid back after 5 years.

 El-Sadat noted that it is high time to get the help of the GCC in supporting the Egyptian economy, and that the Government should seek for this before turning to the International Monetary Fund as a first resort, especially since Egypt is the key to the stability of the Gulf States and regaining their status and its role is to maintain the position and status of the Gulf States. Mostafa Jibreel Media Coordinator


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