{"id":648747,"date":"2017-04-11T04:15:18","date_gmt":"2017-04-11T04:15:18","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2017\/04\/11\/reaction-to-state-of-emergency\/"},"modified":"2017-04-11T04:15:18","modified_gmt":"2017-04-11T04:15:18","slug":"reaction-to-state-of-emergency","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2017\/04\/11\/reaction-to-state-of-emergency\/","title":{"rendered":"Reaction to state of emergency"},"content":{"rendered":"

<\/a> The Ismail cabinet <\/strong>approved<\/strong><\/a> the imposition of a three-month state of emergency <\/strong>starting from 1:00 pm yesterday<\/strong>,reacting to a move by President Abdel Fattah El Sisi on Sunday. In accordance with the constitution, the decision must now be signed off by the House of Representatives<\/a> within seven days. House Speaker Ali Abdel Aal invited Prime Minister Sherif Ismail to discuss the emergency law with MPs at today\u2019s plenary session before it is put to a vote, Al Masry Al Youm reports<\/a>.<\/p>\n

TALKING HEADS ON THE ATTACKS, STATE OF EMERGENCY: Alaa Shahine asks on <\/strong>Bloomberg <\/strong>TV<\/strong><\/a> if the Egyptian government will follow through with the \u201ctough\u201d measures<\/strong> planned as part of the economic reform package following the terrorist attacks on Sunday. There are more tough decisions that should be taken during this period following the currency flotation and in an environment where inflation is running north of 33%. \u201cThe risk is will the government now think \u2026 let\u2019s delay some of these tough decisions or reforms we have to take. This is something that people would be watching out for,\u201d Shahine says. On imposing a state of emergency, he says \u201cEgypt has been reaping the early gains from the IMF accord\u201d but the next stage should be a resurgence in FDI inflows. Shahine suggests the behavior of foreigners on the EGX and in the local currency debt market will be a gauge for how the decision is being received (runtime 03:43).<\/p>\n

Hani Sabra, head of the Mideast and North Africa practice at the Eurasia Group, tells Bloomberg<\/a> the attacks \u201cwill make the military and broader security establishment very skittish, but will not force a major course correction on the economy <\/strong>unless it translates into broader unhappiness with the government\u2019s performance.\u201d He suggests that \u201cwhat the authorities are more sensitive to than attacks on Coptic Christians is massive anti-government protests by middle class Egyptians -- their core constituency that provide the state legitimacy.\u201d<\/p>\n

Robert Fisk does a hatchet job for <\/strong>The Independent<\/strong><\/a>, saying imposing a state of emergency shows that private investment cannot grow. Fisk read his tea leaves and suggests the state of emergency will \u201cbe going strong in a year\u2019s time.\u201d<\/p>\n

The International Labor Organization\u2019s Cairo office chief thinks the state of<\/strong>emergency will have a negative impact on investment, <\/strong>Al Borsa reports<\/a>.<\/p>\n

Speaking<\/a> as a member of the Federation of Egyptian Industries, Tarek Tawfik says the<\/strong>impact of the emergency measures will be minimal. <\/strong>Tawfik added that the FEI is bringing in foreign business delegations and is planning roadshows abroad to promote investment in Egypt.<\/p>\n","protected":false},"excerpt":{"rendered":"

The Ismail cabinet approved the imposition of a three-month state of emergency starting from 1:00 pm yesterday,reacting to a move by President Abdel Fattah El Sisi on Sunday. In accordance with the constitution, the decision must now be signed off by the House of Representatives within seven days. House Speaker Ali Abdel Aal invited Prime […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[8572],"tags":[72,2380],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-648747","post","type-post","status-publish","format-standard","hentry","category-speed-round","tag-enterpriseam","tag-speed-round","wpautop","entry"],"acf":{"mongo_id":"dd760ce3-81dd-46a3-bea6-b29017635c67","order":"0","is_powered_by":true,"section_story_id":"9b4ed3e2-80cc-4cdd-b9dc-5b47fb53a7e1","story_type":"1","photo_url":"","photo_position":"above","related_issue":[648740],"teaser":"","voice_url":""},"yoast_head":"\nReaction to state of emergency - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/2017\/04\/11\/reaction-to-state-of-emergency\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Reaction to state of emergency\" \/>\n<meta property=\"og:description\" content=\"The Ismail cabinet approved the imposition of a three-month state of emergency starting from 1:00 pm yesterday,reacting to a move by President Abdel Fattah El Sisi on Sunday. 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Ahead of the vote, Prime Minister Sherif Ismail briefed MPs on the reasons behind the decision, assuring them\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":623127,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/10\/22\/author-of-forthcoming-book-critical-of-economy-said-arrested-house-extends-nationwide-state-of-emergency-for-three-months\/","url_meta":{"origin":648747,"position":2},"title":"Author of forthcoming book critical of economy said arrested; House extends nationwide state of emergency for three months","author":"enterpriseam admin","date":"22 October 2018","format":false,"excerpt":"** #6 The author of a forthcoming book critical of Egypt\u2019s economy is said to have been arrested for allegedly \u201cpublishing false news,\u201d Reuters reports, citing security officials and the author\u2019s wife. 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