IMF Is Postponing & Procrastinating Loan: El-Erian

The Vice Chairman of the Islamist Freedom and Justice Party (FJP) Essam El-Erian, said Egypt’s obtaining the International Monetary Fund (IMF)’s  loan is highly pivotal as it will give greater confidence in the national economy and will attract more investments. However, the IMF keeps delaying and procrastinating to grant the loan to Egypt.

 “In my opinion,  if Egypt fails to get the long-awaited IMF loan, it will not economically disastrous leading to the depletion of the country’s cash reserves. Egypt can resort to other alternatives and depend on its own resources.” El-Erian added.

Furthermore, El- Erian denied in a statement to El Hayat El Yom newspaper, having tensions between the country’s military institution and the Muslim Brotherhood, for the latter is seeking a non-politicized army that has nothing to do with politics and to be strong and respecting the laws and sharia.