El Sadat: The Fate of IMF Loan is Unclear and the Economic Group Ministers are Spectators

 Anwar El Sadat, Chairman of Reform & Development Party , demanded Prime Minister Hisham Qandil to issue a clear statement about the actions that have been taken with respect to a loan from the International Monetary Fund after changing the Economic Group Ministers (Ministers of Finance, Planning and International Cooperation, and Investment. He also asked Qandil to make himself clear on the inconsistencies between the statements of the government officials and those of their counterparts in the Fund on the date of resuming the loan negotiations between the two sides.

El Sadat stressed that the fate of the IMF loan which Egypt is trying to get has became uncertain. There is some kind of secrecy and opacity on what has been agreed upon. The reform program, which will be provided by the government, will likely increase taxes and prices as a result of the removal of subsidies on certain commodities and energy. Perhaps we will be surprised by these measures before or after the elections, who knows. I think this is the reforms expected from the government.

El Sadat said that the Egyptian people's patience is about to run out, as the most important demands of the revolution did not materialize on the ground. Instead, the financing gap in the budget rose from $ 14.5 billion to $ 21 billion. The government is still delusional about getting a loan of $ 4.5 billion from the IMF to achieve their extraordinary accomplishments and meet the hopes and aspirations of 85 million Egyptians.

Mostafa Jibril
Media Coordinator


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