Bloomberg News

Egypt Government to Respond to IMF Transparency Case Next Month

November 13, 2012

The Egyptian government will respond on Dec. 18 to a case filed by former presidential candidate Khaled Ali seeking disclosure of any conditions tied to its $4.8 billion loan talks with the International Monetary Fund, the country’s Administrative Court said today.

An IMF mission is in Cairo to discuss the country’s economic and social program, as the government seeks help to bridge the budget deficit and to win support from other lenders and donor nations. The loan negotiations process has come under criticism from rights groups, political parties and labor unions for lacking transparency.

“The IMF is a political organization, not a charity,” Ali said at an anti-IMF loan protest yesterday. Ali, who has won seven cases since last year’s uprising reversing privatization deals done under former President Hosni Mubarak, said he was not invited to any public consultations on the loan the government said it conducted.

To contact the reporter on this story: Nadine Marroushi in Cairo at nmarroushi@bloomberg.net

To contact the editor responsible for this story: Andrew J. Barden at barden@bloomberg.net


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