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    Egypt expects to sign deal for $3.2B IMF loan soon

    CAIRO (AP) — Egypt's finance minister says Cairo expects to sign a loan agreement with the International Monetary Fund for $3.2 billion next month.

    The state-run al-Ahram daily of Sunday quoted Mumtaz al-Said as saying that sum would be disbursed in three stages: the first upon the deal's signing, and the second and third three and six months later, respectively.

    Egypt formally requested the loan in January, after rejecting an offer made last year. The IMF could not immediately be reached for comment.

    Egypt's economy has been badly battered by more than a year of unrest since an 18-day uprising pushed President Hosni Mubarak from power on Feb. 11, 2011.

    The report said Egypt is also negotiating a second loan for $1 billion with the World Bank.

     

    53 comments

    • resident  •  3 mths ago
      Giving a loan to a country that is loosing 40 million dollars a day?????? May as well drop an air shipment of weapons, something that the Muslims could realy use, no training neccasary!!! The IMF is NUTS!!!
      • viva-suriname 3 mths ago
        The IMF is not nuts. Every move they do calculated .All those loans they landed did not help any country . All countries are loosing finally their identity and they are loosing their wealth or what ever they have .
    • Jesus  •  Benicia, California  •  3 mths ago
      I really feel sorry for Brenda.. Her life must be horribly pathetic.
    • A Yahoo! User  •  Poway, California  •  3 mths ago
      they should start the default proceedings now... Egypt's main source of income previously was tourism... how are they going to pay back 4B is loans? by selling cotton?
    • NSA  •  Lovettsville, Virginia  •  3 mths ago
      Brenda call me , I can help!
    • viva-suriname  •  3 mths ago
      To sign the IMF deal for Egypt is equal to sign their own death sentence . Eventually they will lose everything what they have today .
    • KIP  •  3 mths ago
      19 Americans are currently being held hostage by the Egyptian govt. Guess which country has donated more money to the IMF than any other? Hint, look in your wallet.
    • uhwhat  •  3 mths ago
      Islam is destroying Egypt. Good.
    • InfidelHere  •  3 mths ago
      MUSLIMS will gladly take our $$BILLIONS$$ for a "false" peace with these animals. This tactic (used by their terrorist pedophile prophet muhammad) is called in arabic an "Hudna". In Islam, you are allowed to make a "false" peace with your enemies so that you buy time to re-arm and re-supply until you are strong enough to fight on. NEVER, EVER trust the cult ideology called ISLAM...EVER!!
    • Dan  •  Los Angeles, California  •  3 mths ago
      And why is the IMF giving this loan...

      ``Egypt court says Christians converting back must be given new IDs``
      Manar Ammar - 20 February 2012

      CAIRO: Egypt’s Supreme Administrative Court in Cairo affirmed the right of Christians who converted to Islam the ability to convert back to their original faith and ordered the ministry of interior to modify their religion slot in the national IDs to accommodate.

      The court issued 10 sentences demanding the ministry adhere to the stipulations.

      The court, headed by Abdalah Abou al-Ezz, also condemned the ministry for what it called “abuse and misuse of authority” for refusing to change the religion slot for a number of Egyptians, unless they get a court order to change it.

      The court had already given 25 orders of changing the religion spot on IDs back, forcing the ministry to make the changes, but the ministry has thus far refused to comply.
    • Dan  •  Los Angeles, California  •  3 mths ago
      The IMF has lost it`s moral compass.

      Egypt’s Baha’is face more attacks from Salafists
      Joseph Mayton - 19 February 2012

      CAIRO: Egypt’s small Baha’i Faith community has faced attack upon attack in its less than 200 year existence in the country. The latest has come from prominent ultra-conservative Salafist leader Abdel Moneim al-Shahat, who called on the government to “protect itself” from the faith by denouncing the faith and calling its followers “blasphemous.”

      “We will prosecute the Bahai’s on charge of treason,” said Shahat via telephone on Dream 2′s al-Haqiqa TV program.

      “We as Salafists refuse to deal with Baha’is, because they do not exist by virtue of their faith.”

      According to Shahat, Bahai’s are not entitled to rights under Islam because they are not recognized by the religion, and any new constitution should not include an amendment protecting their rights.

      He cited previous Al-Azhar – the Sunni Islamic world’s most prestigious institution – rulings that said Baha’is are blasphemous.
    • Ron  •  Fairfield, California  •  3 mths ago
      Sure, give em the money, why not? The IMF is a joke.
    • Wilson  •  St Louis, Missouri  •  3 mths ago
      Seems like every country is getting an IMF loan? Wonder what that says to the health of the global economy?
    • Enemy of the State  •  3 mths ago
      America has 'assisted' in destabilizing these regions and states for the purpose of getting central banking dominance installed. America is the bully and the central bankers are the power behind the bullies.
      • The Whole Truth 3 mths ago
        What proof do you have?
      • Agent 86 3 mths ago
        No proof, just a yapping dog.
      • Enemy of the State 3 mths ago
        Americans were barred from leaving Egypt because the United States' NGO offices were found to contain the very proof you're calling for incriminating them for using their 'pro-democracy movements' as a front to carry out subversive and covert operations intended to destabilize the region. Now, not only is it in Egypt but also Bahrain and most likely Syria. So that would make YOU FUX the 'yapping, nut lapping dogs'.
    • Hebrew  •  Fort Lauderdale, Florida  •  3 mths ago
      these creeps want to hold the peace treaty w/ israel hostage for more aid money. so i don't think they're reliable anymore, to say the least. who DIDN'T see this coming?
    • Orland  •  Chico, California  •  3 mths ago
      Egypt is getting exactly what they asked for. 2000 years and off they go back to the Dark ages and being held in Bondage, And Hoodwinked !
    • Thai  •  3 mths ago
      I feel very sorry for Egypt. I guess they are started what they can not finish in the next hundred years . IMF has never been fair to third world countries. If this is what revolution is all about, it is nothing but failure. You have succeeded in transferring your economy to those that want it.
    • anthony bartolomeo  •  Denver, Colorado  •  3 mths ago
      money dose not buy peace..people make peace!..money dose not end troubles..people work hard to end troubles!
    • NSA  •  Lovettsville, Virginia  •  3 mths ago
      Another African nations accepts loans from the Mafia, they (Egypt) will never be able to pay even the interest of the loan for the first year, which in turn will make the Mafia (IMF) set up a favorable government , which will implement Austerity measures causing a bigger revolt, and enslavement by the IMF and the Jewish Banking system.
      • Agent 86 3 mths ago
        Do not take the IMF money or the US aid. Only accept money from muslim nations that will give it to you. And not from any of the autocratic ones. Only the ones with Islamic republics. So Iran, Syria, Iraq, Pakistan, and er any others?
    • Gawad bin Gawad  •  Luxor, Egypt  •  3 mths ago
      AP is Sioni agent. IMF is Sioni agent. Muhammad (PBUH) is Sinoi agent. That why they call him "profit" Muhammad (PBUH).
    • The Whole Truth  •  3 mths ago
      Muzzys always have their hands out. Can never do a #$%$ thing for themselves.
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