Egypt opposition urges rejection of IMF loan | News | Al Jazeera

Egypt opposition urges rejection of IMF loan

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

    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.

    SOURCE: Al Jazeera


    YOU MIGHT ALSO LIKE

    Interactive: Coding like a girl

    Interactive: Coding like a girl

    What obstacles do young women in technology have to overcome to achieve their dreams? Play this retro game to find out.

    America's Guns: Secret Pipeline to Syria

    America's Guns: Secret Pipeline to Syria

    How has the international arms trade exacerbated conflict in the Middle East? People and Power investigates.

    I remember the day … I designed the Nigerian flag

    I remember the day … I designed the Nigerian flag

    In 1959, a year before Nigeria's independence, a 23-year-old student helped colour the country's identity.