Arab Today, arab today imf deal not enough to save egyptian economy
Last Updated : GMT 21:38:38
Arab Today, arab today
Arab Today, arab today

IMF deal not enough to save Egyptian economy

Arab Today, arab today

Arab Today, arab today IMF deal not enough to save Egyptian economy

Cairo - Agencies

The International Monetary Fund (IMF)\'s proposed $4.8 billion loan will not be enough for Egypt to overcome its post-revolution economic dilemmas, David Malone, president of Canada’s International Development Research Centre (IDRC), said in Cairo on Sunday. Malone, a renowned development scholar, said that a \"western tailored\" development model was \"not what Egypt needed at the moment,\" stressing that international borrowing – although badly needed – was not necessarily the solution to Egypt\'s chronic economic woes. \"Only Egyptians,\" Malone said, would be able to formulate a development plan compatible with Egyptian social dynamics and the country’s economic potential. \"International institutions cannot be a substitute for internal decision-making,” said the IDRC head, adding that development formulas dictated by the IMF and other international bodies had repeatedly failed in developing countries, such as Argentina and India. A series of austerity measures is expected to accompany the loan deal, including across-the-board subsidy cuts aimed at reducing Egypt\'s ever-widening budget deficit. \"The real issue is that economic management is missing from the political discourse; day-to-day politics seems to be the current priority,\" asserted Malone. \"Egypt is in desperate need for economic management.\" Economic growth is a prerequisite to Egypt\'s development effort, he said, but growth must be accompanied with sound governance to combat long-term structural deficiencies, such as corruption and a crumbling public sector that hinders development efforts. The proposed IMF loan is seen by the Egyptian government as vital to propping up the state\'s battered finances. Ratification of the deal would also unlock billions of dollars of additional aid from foreign governments. The IDRC is currently planning to fund a handful of agricultural research programmes in Egypt, along with other programmes focussing on job creation, environmental preservation and anti-sexual harassment awareness. Since 1971, the IDRC has pumped more than LE400 million into Egyptian development projects.

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today imf deal not enough to save egyptian economy Arab Today, arab today imf deal not enough to save egyptian economy

 



Arab Today, arab today
Arab Today, arab today US, Britain ban laptops on flights

GMT 07:36 2017 Wednesday ,22 March

US, Britain ban laptops on flights
Arab Today, arab today Sheds light on major steps in 12-year career

GMT 06:07 2017 Monday ,27 February

Sheds light on major steps in 12-year career
Arab Today, arab today Hezbollah commander killed by own men

GMT 07:43 2017 Wednesday ,22 March

Hezbollah commander killed by own men
Arab Today, arab today Tunisian media host praises her new experience

GMT 12:35 2017 Wednesday ,15 March

Tunisian media host praises her new experience
View News in Arabic - Business: نفط وبتروكيماويات
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Yemeni official warns education is under threat

GMT 12:03 2017 Tuesday ,14 March

Yemeni official warns education is under threat
Arab Today, arab today 2017 already marked

GMT 15:25 2017 Tuesday ,21 March

2017 already marked
Arab Today, arab today Prepares to give stargazers an eyeful

GMT 13:38 2017 Monday ,06 March

Prepares to give stargazers an eyeful
Arab Today, arab today Renault Trezor wins design award

GMT 11:56 2017 Tuesday ,21 March

Renault Trezor wins design award
Arab Today, arab today Palestinian police wage war

GMT 07:53 2017 Friday ,17 March

Palestinian police wage war
Arab Today, arab today Dalia Mustafa believes in the presence of ghosts

GMT 07:39 2017 Monday ,20 March

Dalia Mustafa believes in the presence of ghosts
Arab Today, arab today Mexico threatens to ditch US corn imports

GMT 10:34 2017 Tuesday ,21 March

Mexico threatens to ditch US corn imports

GMT 19:27 2017 Saturday ,11 March

Boualsof launches "Priestess Kahina" collection

GMT 16:41 2017 Monday ,20 March

Preserving the memory of glaciers

GMT 19:45 2017 Monday ,20 February

Sarah Belamesh designs antiques of "ceramic"

GMT 14:17 2017 Monday ,20 March

Cholesterol-slashing drug not impair brain

GMT 17:08 2017 Saturday ,18 March

Reveals secrets of tourism flights to space

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons

GMT 15:42 2017 Saturday ,18 March

HTC U Play now available in KSA

GMT 22:39 2017 Thursday ,09 March

Zuhair Murad presents his new collection "Resorts"
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday