The report assesses the economic and social impact of the economic adjustment program, agreed upon by the Egyptian government and the International Monetary Fund as a condition for Egypt’s receipt of $12-billion loan under the Extended Fund Facility, to be disbursed in six tranches.
The EIPR reiterates its reservations on most of the IMF loan terms, which have adverse socioeconomic impacts on most citizens and are damaging to the economy and social stability.
The political administration reduced the budget deficit to under 10% using controversial economic measures without taking the necessary measures to protect the poor from the inevitable resulting inflation and increase in prices.
The undersigned civil society organizations declared their profound disappointment by the Cabinet’s decision to include Coal as part of Egypt’s energy mix.
(19 February 2010, Geneva) The UN review of Egypt's rights record has been overshadowed by the Egyptian government’s use of its diplomatic relations to limit a constructive debate, preventing real concerns from being raised while denying all human