IMF and Egypt Negotiating $4.8 Billion Loan
The Egyptian government is seeking a massive loan from the International Monetary Fund to help the country’s foundering economy.
The negotiations between government officials and IMF representatives in Cairo is contingent on proving that the nation is serious about economic reform.
The Egyptian pound has lost ten percent of its value since the beginning of 2013. Inflation has significantly risen and the lack of funds has caused the government to cut back on imports. (more…)
The Egyptian government is seeking a massive loan from the International Monetary Fund to help the country’s foundering economy.
In the latest cases of violent persecution, Muslims stormed a mosque in suburban Cairo, turning it into a torture chamber for Christians. The Christians were singled out from groups protesting the Muslim Brotherhood’s President Morsi. Experts fear that this is only the beginning of the days of trouble and expect the persecution and tribulation will grow much worse.
Experts are estimating anywhere between 30 million and 120 million locusts are swarming around Egypt. The flying pests attacked the El-Obour Market in Cairo on Sunday and have also threatened Suez farmers to the north.
Thousands take to the streets, set up tents in Cairo’s Tahrir Square, block trains and express their dissatisfaction over the Muslim Brotherhood cabinet and President Mohammed Morsi.
The Islamic Summit met in Cairo, over this past weekend, amidst turbulence in the Egyptian streets.
Ahmadinejad said at the 12th Islamic Summit Conference in Cairo this week, that Iran is ready to march on Israel and “wipe it out” if the Jewish state strikes Iran’s nuclear facilities, in his latest anti-Semitic tirade.
It’s a new day, a new dawn for Cairo, but is it a step in the right direction? Egypt’s Muslim President Morsi says, “We don’t want to return to an era of one opinion and fake, manufactured majorities. The maturity and consciousness (of voters) heralds that Egypt has set on a path of democracy with no return.”
“No to liberalism, no to secularism, I don’t want anything other than sharia,” the protesters chanted in Cairo’s Tahrir Square. Some waved black flags emblazoned with Islamic slogans. “Islamiya, Islamiya,” people shouted, highlighting divisions in the Egyptian society as rival factions jostle to shape their new nation. Cairo’s Tahrir Square was the center of the uprising that collapsed the Hosni Mubarak regime after he spent 30 years keeping a tight lid on the Islamists.
Cairo’s request to temporarily station five attack helicopters in the Sinai Peninsula was a departure from peace treaty framework between Israel and Egypt, but Israeli ministers approved the request.
There is great concern on the Israeli side of the Egyptian border. Israeli leaders are strongly urging Cairo to retake full control over the Sinai Peninsula. This area has turned into a lawless haven for militants and jihadists.














