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Egypt Premier Known as Free-Market Champion
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Egypt's new prime minister, Hazem el-Beblawi, in July 2013, is a professor of Economics who received his doctorate from the University of Paris in 1964. He has taught economics at universities in Egypt, Kuwait, France and the U.S. After 15 years teaching at the University of Alexandria, he worked in development banks in the Middle East for another 15 years, joining the Finance Ministry in 2011. He resigned in protest against military shooting of protesters at the time. Egypt has about $14.9 billion in reserves according to Egypt's central bank, less than the $15 billion needed for three months of imports. Egypt needs to negotiate a $4.8 billion loan from the IMF. Earler negotiations were stymied by the military in 2011, and el-Beblawi will now be negotiating with the head of the Constitutional Court as president, after the ouster of president Morsi of the Muslim Brotherhood.
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Egypt Premier Known as Free-Market Champion
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Hernando De Soto's 2004 report for the Egyptian government and the Economic Apartheid under Mubarak
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In 1997 Egypt's finance minister commissioned a report from AID and the Institute for Liberty and Democracy on improving Egypt's economy. It took 7 years of detailed study led by De Soto and a detailed report of reforms needed was submitted in 2004. The reforms were blocked by vested interests and there was a cabinet shakeup. This along with Gerson's account of a Condoleeza Rice meeting with opposition leaders in Cairo give an account of the last effort- made under President George W. Bush- to get Egypt back into economic growth in a modernizing world. This is a must read!
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Egypt Premier Known as Free-Market Champion
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Hernando Soto conducted a detailed study on reforming the antiquated Egyptian legal system and the bureaucratic red tape that cripples the economy and leaves the Egyptian people without hope. It was presented to the Egyptian government for reforms in 2004, then the cabinet was reshuffled and reforms were blocked by hidden interests interested in preserving the status quo. The economic crisis facing Egypt after years of underinvestment in the economy.
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Qatar's Aid to Egypt Raises Fears on Motives
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Egypt Premier Known as Free-Market Champion
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Grouped Articles
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In Egypt’s bread, signs of economic weakness - The Washington Post
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Egypt’s president is U.S. critic, but could be an ally - The Washington Post
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The IMF and Egypt
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The economc crisis facing Egypt after years of underinvestment in the economy.
Grouped Articles
Qatar's Aid to Egypt Raises Fears on Motives
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The Economic Blunders Behind the Arab Revolutions
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Egypt to Obtain $3 Billion IMF Loan
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