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nohaelshoky

UPDATE 1-Egypt finmin expects to get IMF loan by end-June - 0 views

www.reuters.com/...idUSL6E8FC21T20120412

debt IMF loan budget economy egypt audit

shared by nohaelshoky on 12 Apr 12 - No Cached
  • nohaelshoky on 12 Apr 12
     
    Thu Apr 12, 2012 5:59am EDT * Minister confident loan will be sealed next month * Muslim Brotherhood won't accept loan without new terms or govt, due in June * IMF had made broad political support a condition CAIRO, April 12 (Reuters) - Egypt's government expects to seal a loan from the International Monetary Fund by May 15, allowing the money to be disbursed before a new president is sworn in at the end of June, the country's Finance Minister Mumtaz al-Saeed said on Thursday.
nohaelshoky

Finance minister expects to get IMF loan by end-June | Egypt Independent - 0 views

www.egyptindependent.com/...-expects-get-imf-loan-end-june

debt egypt audit IMF loan economy budget

shared by nohaelshoky on 12 Apr 12 - No Cached
  • nohaelshoky on 12 Apr 12
     
    Egypt's government expects to seal a loan from the International Monetary Fund by 15 May, allowing the money to be disbursed before a new president is sworn in at the end of June, Finance Minister Momtaz al-Saeed said on Thursday. "We expect to get approval of the IMF loan before 15 May," Saeed told reporters in Cairo.
philip rizk

The Hidden Costs of Egypt's IMF Loan | Al Akhbar English - 0 views

english.al-akhbar.com/...hidden-costs-egypts-imf-loan

imf loan drop debt campaign

shared by philip rizk on 26 Aug 12 - No Cached
  • The Popular Campaign to Drop Egypt’s Debt issued a statement Thursday opposing the IMF loan and questioning the lack of information about “the extent to which the Egyptian economy needs this massive amount of dollars.” The group protested that there had been no discussion of alternative ways of financing public spending, adding that the government had obtained foreign loans amounting to $6 billion over the past year without any democratic oversight. Governments appointed by the military since the revolution had also borrowed record amounts from Egyptian banks, it said, and “it is not known how they were spent.”
nohaelshoky

List of JAPAN soft loans 1974-2004 (incl.Dekheila) - 1 views

www.eg.emb-japan.go.jp/...soft_loans.htm

Japan loan debt audit Dekheila 74-04

shared by nohaelshoky on 03 Oct 11 - No Cached
  • nohaelshoky on 03 Oct 11
     
    Soft Loans JAPAN extended concessional loans to Egypt in order to assist Egypt to implement large-scale economic infrastructure projects such as Al-Dekheila Integrated Steel Mill and the Suez Canal Expansion Project. Since 1991, Japan has stopped extending new loans because of the debt rescheduling for Egypt, but new three candidate projects were formally applied for the government of Egypt to Japan in 1999.
nohaelshoky

Japan's Loan Helps Egypt Build 150 MW Solar Plant | Renewable Energy News Article - 0 views

www.renewableenergyworld.com/...build-150-mw-solar-plant-43133

Japan JICA SolarPlant $90000 2006

shared by nohaelshoky on 03 Oct 11 - No Cached
  • nohaelshoky on 03 Oct 11
     
    Cairo, Egypt [RenewableEnergyAccess.com] Japan Bank for International Cooperation (JBIC) will loan 10,665 million yen [USD $90,000] to the Arab Republic of Egypt for materials, equipment and consulting necessary for the construction of a 150 MW integrated solar combined cycle power plant in the Kuraymat district, which is about 100 km south of Cairo.
nohaelshoky

Japanese govt loans Egypt LE300 million to complete Grand Egyptian Museum | Al-Masry Al... - 0 views

www.almasryalyoum.com/...462257

300Mill Japan JICA loan audit Museum Jun11

shared by nohaelshoky on 03 Oct 11 - No Cached
  • nohaelshoky on 03 Oct 11
     
    The Japanese Government granted Egypt a LE300 million loan to complete the last phase of the Grand Egyptian Museum (GEM) in a deal signed Thursday, according to Antiquities Minister Zahi Hawass. During the signing of the deal with Japan International Cooperation Agency (JICA), Hawass said that construction work would begin in mid November and is scheduled to be completed by March 2015.
nohaelshoky

JICA Press Release: Japanese ODA loan up to 38.864 billion - 0 views

www.jica.go.jp/...100331_02.html

Japan JICA ODA loan ElZayt PowerPlant 38bill agreement Mar10

shared by nohaelshoky on 03 Oct 11 - No Cached
  • nohaelshoky on 03 Oct 11
     
    1. On March 30, 2010, JICA (President: Sadako Ogata) signed an agreement with the government of the Arab Republic of Egypt for a Japanese ODA loan up to 38.864 billion yen for the Gulf of El Zayt Wind Power Plant Project. 2.
nohaelshoky

Egypt gets $432 million loan from Japanese government for offshore wind - 0 views

www.offshorewind.biz/...e-government-for-offshore-wind

OffshoreWind Japan JICA loan 432mill Jul2010 debt

shared by nohaelshoky on 03 Oct 11 - No Cached
  • nohaelshoky on 03 Oct 11
     
    Offshore Wind delivers expert coverage of the industry sectors that matter most to you and your business. This includes news and updates on wind farms, markets, projects, vessels, turbines, equipment, research, contractors and the authorities dominating these markets.
philip rizk

NewsWires : euronews : the latest international news as video on demand - 0 views

www.euronews.com/...-loan-for-egypt-wont-be-enough

imf negotations loan

shared by philip rizk on 21 Apr 12 - No Cached
  • philip rizk on 21 Apr 12
     
    "If we hear solid partners on the ground say, I am not too sure about this program, not too sure about the IMF, not too sure about borrowing, it is a bit of an issue.""
nohaelshoky

Egypt's Military to Lend $1 Billion to Bolster Currency - 1 views

www.nytimes.com/...barak-heads-back-to-court.html

Military Army Egypt $1Billion loan

shared by nohaelshoky on 30 Dec 11 - No Cached
  • nohaelshoky on 30 Dec 11
     
    The loan, reported by state news media on Wednesday, appeared to be part of a broad public relations campaign. Faced with criticism of its reluctance to turn over power and its brutal treatment of protesters, the ruling military council is apparently trying to show it is helping alleviate Egyptians' financial distress.
philip rizk

Egypt's 'Orderly Transition'? International Aid and the Rush to Structural Adjustment - 0 views

www.jadaliyya.com/...E2%80%99-international-aid-and

aid neoliberalism imf worldbank hanieh

shared by philip rizk on 28 Sep 11 - No Cached
  • a critique of these financial packages needs to be seen as much more than just a further illustration of Western hypocrisy
  • a sustained effort to restrain the revolution within the bounds of an ‘orderly transition’
  • Egypt is, in many ways, shaping up as the perfect laboratory of the so-called post-Washington Consensus, in which a liberal-sounding ‘pro poor’ rhetoric – principally linked to the discourse of democratization – is used to deepen the neoliberal trajectory of the Mubarak-era
  • ...16 more annotations...
  • “As momentous as the current security and political restructuring challenges may be, it is absolutely critical that the transition authorities … place a high priority on deepening and accelerating structural economic reforms … transition and subsequent governments must articulate a credible medium-term reform and stabilization framework … [and] need to focus on creating the legal and institutional environment for fostering entrepreneurship, investment, and market-driven growth.”
  • The IIF went on to bluntly identify this acceleration of structural adjustment as the “context” in which aid to Egypt would be provided
  • designed to ensure greater legitimacy for neoliberalism
  • By limiting democracy to the ‘political’ sphere and expanding the notion of freedom to include ‘markets’, they obfuscate the necessary relations of power within the market, and explicitly block the ability of states to determine the use, ownership and distribution of their economic resources. Democratic control of the economy is thus precluded as a violation of ‘good governance’.
  • In the case of Egypt, the discourse of institutional reform has allowed neoliberal structural adjustment to be presented not just as a technocratic necessity – but as the actual fulfillment of the demands innervating the uprisings
  • emphasized by US and European spokespeople over the last weeks: this was not a revolt against several decades of neoliberalism – but rather a movement against an intrusive state that had obstructed the pursuit of individual self-interest through the market
  • Perhaps the starkest example of this discursive shift was the statement made by World Bank President Robert Zoellick at the opening of a World Bank meeting on the Middle East in mid-April. Referring to Mohammed Bouazizi, the young peddler from a Tunisian market place who set himself on fire and became the catalyst for the uprising in Tunisia, Zoellick remarked “the key point I have also been emphasizing and I emphasized in this speech is that it is not just a question of money. It is a question of policy … keep in mind, the late Mr. Bouazizi was basically driven to burn himself alive because he was harassed with red tape … one starting point is to quit harassing those people and let them have a chance to start some small businesses.”  
  • Western loans act to extract wealth from Egypt’s poor and redistribute it to the richest banks in North America and Europe.
  • Contrary to what has been widely reported in the media, this was not a forgiveness of Egypt’s debt. It is actually a debt-swap – a promise to reduce Egypt’s debt service by $1 billion, provided that money is used in a manner in which the US government approves.
  • dependent upon a continuous stream of new loans in order to service previously accumulated long-term debt
  • A PPP is a means of encouraging the outsourcing of previously state-run utilities and services to private companies
  • “a useful phrase because it avoids the inflammatory effect of “privatization” on those ideologically opposed
  • “The EBRD was created in 1991 to promote democracy and market economy, and the historic developments in Egypt strike a deep chord at this bank."
  • A research institute that tracks the activity of the EBRD, Bank Watch, noted in 2008 that a country cannot achieve top marks in the EBRD assessment without the implementation of PPPs in the water and road sectors.
  • The current Egyptian government has given its open consent to this process
  • “the current transition government remains committed to the open market approach, which Egypt will further pursue at an accelerated rate following upcoming election.”
  • philip rizk on 28 Sep 11
     
    "a critique of these financial packages needs to be seen as much more than just a further illustration of Western hypocrisy"
Ahmed Badawi

Qatari help to Egypt is a grant, not a loan, says finance minister - Economy - Business... - 0 views

english.ahram.org.eg/...ant,-not-a-loan,-says-fin.aspx

Qatar Egypt Budget Deficit Debt

shared by Ahmed Badawi on 09 Oct 11 - No Cached
  • Ahmed Badawi on 09 Oct 11
     
    Finance Minister Hazem El-Beblawi says Qatar transferred $500 million last week as a grant to Egypt for budgetary support
nohaelshoky

SCAF has not raised Egypt's foreign debt ceiling, so far: Official - Economy - Business... - 0 views

english.ahram.org.eg/...s-foreign-debt-ceiling,-s.aspx

SCAF foreign debt audit debtceiling salma hussein IMF

shared by nohaelshoky on 29 Oct 11 - No Cached
  • nohaelshoky on 29 Oct 11
     
    SCAF has not raised Egypt's foreign debt ceiling, so far: Official The IMF may yet ink a $3 billion loan deal with Egypt despite disagreements between the country's military and finance and planning ministries over foreign borrowing, an insider tells Ahram Online Salma Hussein, Thursday 27 Oct 2011 The current visit of an IMF delegation to Cairo could end up yielding a loan agreement, a finance ministry official has told Ahram Online on condition of anonymity.
nohaelshoky

An Audit of Irish Debt - 0 views

www.debtireland.org/...audit_of_irish_debt6.pdf

debt audit loans Ireland

shared by nohaelshoky on 09 Apr 12 - No Cached
  • nohaelshoky on 09 Apr 12
     
    publication on the process of auditing Irish debt
nohaelshoky

CADTM - Moratorium on Tunisian debt: an urgency for the people of Tunisia - 0 views

www.cadtm.org/Moratorium-on-Tunisian-debt-an

debt audit loan economy Tunisia Moratorium CADTM

shared by nohaelshoky on 12 Apr 12 - No Cached
  • nohaelshoky on 12 Apr 12
     
    By the same authorMarie-Christine Vergiat By the same authorGabi Zimmer By the same authorCADTM Press release 4 April 2011 by Marie-Christine Vergiat, Gabi Zimmer, CADTM Press release of Marie-Christine Vergiat (Front de Gauche) and Gabi Zimmer (Die Linke) MEPs and of the CADTM (Committee for the Abolition of the Third World Debt) Following a meeting held in the European parliament in Brussels organised by the CADTM (committee for the Abolition of the Third World Debt) and two MEPs from the GUE-NGL (European United Left-Nordic Green Left), Marie Christine Vergiat (Front de Gauche) and Gaby Zimmer (Die Linke), and several members of the European and national parliaments belonging to different political affiliations, are launching an appeal calling for the immediate suspension of the EU debt repayment by Tunisia (with frozen interests).
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