Khaled Ali warns Egypt of consequences to IMF loan

Monday 11-03-2013 01:49 PM
Khaled Ali warns Egypt of consequences to IMF loan

Potential presidential candidate, Khaled Ali - Ahram

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Former presidential candidate and prominent human rights lawyer, Khaled Ali, warned on Sunday from the repercussions of responding to the conditions of the International Monetary Fund (IMF) which entail raising the prices of energy.

"Social protests are continuous in light of the shortage of diesel and oil fuels, this is only a miniature of what will happen if we actually respond to the IMF conditions," Ali posted on his Twitter account.

Earlier on Sunday morning fights occurred between micro-bus drivers on Cairo's ring road as the micro-bus drivers cut off the road to protest the price hikes of diesel fuel.

Egypt has agreed with the IMF primarily on a $ 4.8 billion loan in November, yet the agreement was frozen at Cairo's request in the wake of an unrest triggered by a decree issued by President Mohamed Mursi that gave him sweeping powers and shielding his decisions from the judiciary.

The nationwide protests pushed the government to cancel the rise in taxes which was planned to cover the budget deficit. 

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