El-Sadat Calls for Community talk on the Economic Reform program with IMF

Mr. Mohamad Anwar Sadat Head of Reform and Development Party (RDP) calls the government and the parliament for holding a public community talk to discuss the economic and financial reform program. This program is supposed to be made in collaboration with the International Monetary Fund. Sadat's demand followed the official declaration made by the Egyptian Government and the IMF to start negotiations on a three-year funding that amounts to 21 billion dollars. 

El-Sadat highlights that IMF and international institutions funding will not be for free. Such agreement may cause grave suffering for all Egyptian classes as of the financial and economic procedures that will be taken. Among the procedures supposed to be taken are floating the Egyptian Pound and this is what we are actually witnessing nowadays; selling assets of public and government entities to foreign investors; decreasing the governmental salaries; decreasing the financial support on fuel, energy and public services and other procedures same as other countries that made an agreement with the IMF.

El-Sadat stresses that all the Egyptian people are advised to participate in accepting or rejecting such procedures. He adds that the parliament will not carry the burden of passing such agreement alone. Everyone must have share in the responsibility.


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