The Egyptian government will not manage to reach a final agreement within the upcoming period with the International Monetary Fund’s mission, the salafist El-Nour party senior member said on Thursday.
Eng. Salah Abdel Maboud, a leading member of the Salafi Nour Party, explained that after the party had met with the IMF mission, the latter has showed its unwillingness to approve on Egypt’s long-awaited US$ 4.8 billion loan.
Abdel Maboud further told ‘Amwal Al Ghad’ that the IMF is procrastinating over giving the loan to the extent the Egyptian government has become forced to abide by all the conditions set by the International lender without prior discussion.
Commenting on the Egyptian Planning Minister Ashraf Al-Araby’s statements that the IMF loan does not require legislative approval, Abdel Maboud said the Shura Council (Egypt’s Upper House) is the country’s sole legislative entity. Hence, the Shura Council insists on reviewing the IMF agreement before making it come into force.
