Qandil: We are Close to Attaining IMF Loan

Prime Minister Hisham Qandil met on 5/3/2013 with a host of Egyptian and Iraqi businessmen in Iraq as part his landmark visit to Iraq. He stressed the importance of the role of Egyptian and Iraqi businessmen in boosting bilateral ties and cooperation. He called on businessmen to take an advantage of the support provided by both governments.

Qandil termed his talks with his Iraqi counterpart Nouri al-Maliki and senior Iraqi officials whether at the political or the economic levels as "very positive". In statements to MENA, Qandil said he expects that his talks in Iraq will make a breakthrough in the business of the Egyptian companies operating in Iraq and open new fields for them. The problem of the Iraqi debts to Egypt could soon be settled, he added.

Qandil made it clear that his Iraqi counterpart pledged to study the status of the Egyptian criminal prisoners held in Iraq and expected a positive outcome for the deliberations on such file in the coming period. Qandil asserted his government is not putting sticks into the wheels of holding the next parliamentary elections. There is a committee which is responsible for the election, but not the government," Qandil said. The elections will be supervised by judges and monitored by civil society organizations, he said.

Qandil also voiced regret over the clashes that took place in the Egyptian governorate of Port Said and Mansoura city that left many people injured or killed. Moreover, The Egyptian government has invited the IMF delegation to visit Cairo and continue negotiations on the $4.8 billion loan Egypt is about to obtain, Qandil said. “The national economic reform program must be implemented but calm and stability is a prerequisite, given the link between the political and economic tracks," he said.

There is great hope in the future for Egypt. Despite the turbulent atmosphere, an international company has set off a nine billion dollar project in Beni Suef that will export merchandise worth one billion dollars annually.