Egypt Daily Update: Second IMF Tranche Delivery Scheduled for June

May 4, 2017

Second IMF Tranche Delivery Scheduled for June

Pro-Brotherhood Group Lobbies U.S. Congress

Cabinet Approves Permanent Residency Amendments

Cartoon of the Day: Amending the Judicial Authority Law

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Second IMF Tranche Delivery Scheduled for June

Egyptian Finance Minister Amr El Garhy, who has been meeting with the International Monetary Fund (IMF) mission visiting Cairo this week, reported [Ar] to Egyptian media that the discussions are progressing well; the Egyptian government’s economic reform program remains in line with the IMF’s vision and Egypt will receive the second tranche of the $12 billion loan in June, he reported. Earlier this week, IMF Director of the Middle East and Central Asia Department Jihad Azour said that Egypt’s inflation rate rose higher than anticipated and that “various fiscal instruments” must be used to curb the negative effects of inflation on the country’s “social situation.”

Enterprise also reported that the World Bank’s Vice President for the Middle East and North Africa Hafez Ghanem announced that he will visit Egypt with a World Bank delegation at the end of next week to meet with government officials. He also stated that the final $1 billion tranche of the $3 billion loan will likely be disbursed in December; the final date will be confirmed in September. During the IMF and World Bank’s spring meetings in Washington last month, Egyptian Minister for Investment and International Cooperation Sahar Nasr discussed accelerating the procedure for disbursing this final tranche with the World Bank’s Vice President for Operations Policy and Country Services Hartwig Schafer.


Pro-Brotherhood Group Lobbies U.S. Congress

A delegation from the pro-Muslim Brotherhood organization Egyptian Americans for Freedom and Justice (EAFAJ) lobbied [Ar] on Capitol Hill on Tuesday for an “Egypt Advocacy Day.” In a press release on Facebook, EAFAJ stated that the purpose of their meetings with congressional offices was “to expose the crimes of Egypt’s current military regime against its own Egyptian people.” They distributed reports to congressional staffers describing the human rights abuses committed in Egypt beginning after the July 2013 military coup through March 2017. The organization calls for halting all U.S. military aid to Egypt “until democracy is regained and human rights are respected.” Members of the delegation included [Ar] EAFAJ President Hani al-Qadi, Vice President Waabir Mustafa, and Ayat al-Oraby, among others.A number of experts on the Muslim Brotherhood have spoken out regarding EAFAJ’s lobbying efforts and condemned al-Oraby’s views in particular. On Twitter, analyst Mokhtar Awad referred to al-Oraby as “a raving sectarian lunatic.” Awad also posted a video of al-Oraby calling for an economic boycott of Christian businesses, where she states that “[Christians] must be made to understand that the [Islamic symbol] crescent must be on top of the cross.”


Cabinet Approves Permanent Residency Amendments

At its weekly meeting yesterday, the Cabinet approved an amendment to an existing bill to grant foreigners permanent residence status. The new regulations increase the property value that foreign nationals must hold to apply for a one-year permanent residency from $50,000 to $100,000. Non-Egyptians who own property worth $400,000 or more will be eligible to apply for a five-year permanent residency. The Parliamentary Defense and National Security Committee approved the amendments last week; Committee Head Kamal Amer stated that the amendments are necessary due to the spike in foreign nationals’ requests for residency in the wake of ongoing conflicts in many countries in the Middle East and North Africa.


Cartoon of the Day: Amending the Judicial Authority Law

Amr El Sawy
Tahrir News04/27/2017

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