Source: Egyptian Initiative for Personal Rights
Author (s): Salma Hussein and Abdelhamid Mekawy
Original Link: https://eipr.org/en/publications/eye-debt-ii-second-report-monitoring-economic-and-social-impact-imf-loan
Summary:
Under the terms of the IMF program and the first review report issued by IMF experts in September 2017, the Egyptian government was obligated to carry out 17 measures to address economic problems in the period from April to December 2017.
- The EIPR believes eight of these measures (47 percent) are inappropriate given their socioeconomic impact.
- The government carried out only 8 of the scheduled 17 measures in the second review period.
- Of the socially detrimental measures, the government carried out four of these, or one-third of the mandated harmful actions.
- The government failed to carry out four measures with an overall positive socioeconomic impact.
The IMF visits, designed to assess the performance of the Egyptian government, take place every six months and determine the disbursement of the next tranche of the loan. The next visit is scheduled for April–May 2018. Thus far Egyptian has obtained $4.13 billion from the IMF as part of the program….
Read full report at Original Link.