[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
More than one-quarter of Gaza's population has been displaced, causing a humanitarian crisis.
Ministers and MPs caught on camera sleeping through important speeches have sparked criticism that they are not working.
Muslim charities claim discrimination after major UK banks began closing their accounts.
Italy struggles to deal with growing flood of migrants willing to risk their lives to reach the nearest European shores.
Featured
In Brussels, NGO staff are being trained to fill the shortfall of field workers in West Africa.
Lawsuit by 6-year-old girl, locked up for a year, reignites debate over indefinite detention of 'boat people'.
Indonesian and Malaysian authorities are keeping a close eye on local supporters of the hard-line Middle East group.
Citizens of the tiny African nation say they're increasingly anxious of the fallout after alleged coup.
A humanitarian crisis and a budget crisis converge in the heart of the human smuggling corridor in Texas.
join our mailing list