IMF and Egypt Negotiating $4.8 Billion Loan

The Egyptian government is seeking a massive loan from the International Monetary Fund to help the country’s foundering economy.

The negotiations between government officials and IMF representatives in Cairo is contingent on proving that the nation is serious about economic reform.

The Egyptian pound has lost ten percent of its value since the beginning of 2013. Inflation has significantly risen and the lack of funds has caused the government to cut back on imports. Continue reading

Egyptian President’s Attempt To Open Parliament Refused

Egyptian President Mohammed Mursi’s attempt to reopen the country’s parliament has been rejected by Egypt’s highest court. The court had previously ruled the election of most of the parliament was unconstitutional and required new elections.

Mursi, who claims to have resigned from the Muslim Brotherhood but is still closely affiliated with the group, wants to get the parliament back in service because most of the seats in the tainted election were won by Muslim Brotherhood candidates. Continue reading

Muslim Brotherhood Warning of “Dangerous Days”

The Muslim Brotherhood, recently removed from power as the result of a Supreme Court ruling that overturned the election that placed them in power, is stating that any return of power to those connected to the previous regime will create “dangerous days.”

The threat comes as the Muslim Brotherhood’s candidate faces off in the Presidential election this weekend with former prime minister Ahmed Shafiq. Shafiq was the last prime minister of the Mubarak regime. Continue reading

Egyptian Parliament Declared Invalid; Military Takes Control

Egypt’s Supreme Constitutional Court has ruled the law dictating rules for the parliamentary elections is invalid, meaning that parliament must be dissolved and a new law put in place.

As a result of the decision, the Supreme Council of Armed Forces announced they have full legislative power and will announce a 100-person assembly. The assembly will write the new constitution for the nation. SCAF has been in control of Egypt since the ouster of Hosni Mubarak. Continue reading

Egyptian Presidential Candidate Accused Of Harassing Christians

Egyptian presidential candidate Ahmed Shafiq has told the BBC that his opponent, Muslim Brotherhood candidate Mohammed Mursi, has been harassing Christians in an attempt to keep them from voting in the country’s upcoming election.

Shafiq also said that the Muslim Brotherhood aims to make Egypt a “sectarian” state despite their public posturing that they would not be seeking to impose Sharia Law on the nation. Continue reading

Egyptian Cabinet To Be Changed

The military council in Egypt announced they will be making changes to the country’s cabinet in response to the demands of the Islamist-dominated Parliament.

The Muslim Brotherhood lead Parliament has been calling for an entirely new cabinet where they would choose the leadership. The current military appointed cabinet is headed by Prime Minister Kamal el-Ganzouri who served in the government of deposed President Hosni Mubarak. Continue reading