Egypt opposition urges government to reject IMF loan

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Opposition leaders in Egypt say the country should refuse a multi-billion dollar loan from the International Monetary Fund. They're worried about the terms the IMF will insist on before they agreeing to release the money. Egypt has been negotiating for months with the organisation over the four point eight billion dollar package. Supporters of the deal think it will stabilise Egypt's struggling economy and attract more foreign investment. Growth in Egypt is at just 3 percent - well below the rate needed to create jobs for the country's unemployed. Al Jazeera's Anita McNaught reports from Cairo.
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[@brianmorgan2725]

why does it seem like every time the IMF tries to help out a country with their debt problems, they only end up making things worse. the IMF either needs to re-think their economic strategies, dis-band or else we need to do some research into them and see if their isn't something shady and underhanded going on. in the meantime, it would be best to automatically be suspicious of any IMF plan and look into other alternative ways to help your nations economy.

[@Base.]

First of all, placing interest on loans or anything for that matter is highly forbidden in Islam and majority Egyptians are Muslim. And as we know now, interest causes a huge gap between the wealthy and the middle class. Much like today, global wealth is owned by the minority at the top. Eventually the rich becoming permanentely rich. Secondly, we all saw what happened in Cyrpus. Stealing is apparently OK when the rich do it.

[@RashidGill]

You are on the right track. MrHewn who disapproved your comment has a little bit of learning to do.

[@brianmorgan2725]

argentina turned down the IMF's offer to help them out when they ran into an economic crisis and came up with their own solutions that worked. argentina isn't seen as anybody's enemy (except for maybe a few elderly brits) but that's over the falkland island fight.

[@Delta4ms]

Maybe they can get a loan from Iran or perhaps another one from Qatar.