[QODLink]
Middle East

Egypt opposition urges rejection of IMF loan

Critics say loan terms, including removal of subsidies from key commodities, would hit the poor hardest.

Last Modified: 30 Apr 2013 21:05
Email Article
Print Article
Share article
Send Feedback

Opposition leaders in Egypt say the government should reject a $4.8bn loan from the International Monetary Fund.

They say the deal would come with IMF conditions, including the removal of government subsidies from key commodities including cooking gas, electricity and petrol, that would result in major price increases.

Supporters of the deal think it will stabilise Egypt's struggling economy and attract more foreign investment.

But opponents say the terms of the loan, which could also include tax hikes, would hit the poor hardest.

Al Jazeera's Anita McNaught reports from Cairo.

88

Source:
Al Jazeera
Email Article
Print Article
Share article
Send Feedback
Topics in this article
People
Country
City
Organisation
Featured on Al Jazeera
An innovative rehabilitation programme offers Danish fighters in Syria an escape route and help without prosecution.
Street tension between radical Muslims and Holland's hard right rises, as Islamic State anxiety grows.
Take an immersive look at the challenges facing the war-torn country as US troops begin their withdrawal.
Ministers and MPs caught on camera sleeping through important speeches have sparked criticism that they are not working.
Featured
Anti-government secrecy organisation struggling for relevance without Julian Assange at the helm.
After decades of overfishing, Japan is taking aim at increasing the number of bluefin tuna in the ocean.
Chinese scientists are designing a particle-smashing collider so massive it could encircle a city.
Critics say the government is going full-steam ahead on economic recovery at the expense of human rights.
Spirits are high in Scotland's 'Whisky Capital of the World' with one distillery thirsty for independence.
join our mailing list