{"id":650100,"date":"2017-03-16T04:05:06","date_gmt":"2017-03-16T04:05:06","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2017\/03\/16\/house-legislative-committee-approves-imf-loan\/"},"modified":"2017-03-16T04:05:06","modified_gmt":"2017-03-16T04:05:06","slug":"house-legislative-committee-approves-imf-loan","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2017\/03\/16\/house-legislative-committee-approves-imf-loan\/","title":{"rendered":"House Legislative Committee approves IMF loan"},"content":{"rendered":"<p><a class=\"content-anchor\" id=\"tldr-story-06\"><\/a> <strong>The House Legislative Committee approved yesterday Egypt\u2019s USD 12 bn loan agreement <\/strong><strong>with the IMF<\/strong> and has referred it to the Economics Committee for further review. The agreement will then be put to a vote in a plenary session, <a href=\"http:\/\/www.almalnews.com\/Pages\/StoryDetails.aspx?ID=326385\">Al Mal<\/a> reports. The committee\u2019s approval came despite a vocal minority that resisted the move at a meeting with Finance Minister Amr El Garhy yesterday. Several of the dissident MPs took to the media, denouncing the agreement, <a href=\"http:\/\/gate.ahram.org.eg\/News\/1422453.aspx\">Ahram Gate<\/a> reports.<\/p>\n<p>From a constitutional standpoint, <strong>House approval of the IMF facility nullifies the need for a<\/strong><strong> referendum on the agreement<\/strong>, said House Speaker Ali Abdel Aal, who attended the meeting, according to <a href=\"http:\/\/gate.ahram.org.eg\/News\/1422548.aspx\">the newspaper<\/a>. He then stressed that foreign treaties and agreements are the purview of the executive branch of government, which makes us wonder: Why, then, would it have ever needed House approval, let alone a referendum?<\/p>\n<p>This comes as the <strong>IMF team due in Cairo to review progress on the reform agenda has <\/strong><strong>postponed its visit to Egypt to 8 May<\/strong> from 28 April, El Garhy reportedly said on Wednesday, according to <a href=\"http:\/\/www.reuters.com\/article\/egypt-economy-imf-idUSL5N1GS1UE\">Reuters<\/a>. The assessment is a condition for disbursing the second USD 1.25 bn tranche of the USD 12 bn IMF extended fund facility. IMF Egypt mission chief Chris Jarvis hinted <a href=\"https:\/\/enterprise.press\/stories\/2017\/03\/01\/second-tranche-of-imf-loan-to-come-in-june-now-visit-has-been-pushed-to-april-jarvis\/\">two weeks ago<\/a> that the tranche is expected to be disbursed in June. Meanwhile, a<strong> World Bank delegation <\/strong>still looks set to arrive in <a href=\"https:\/\/enterprise.press\/stories\/2017\/03\/14\/on-the-horizon-101\/\">in April<\/a> to go over many of the same points.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The House Legislative Committee approved yesterday Egypt\u2019s USD 12 bn loan agreement with the IMF and has referred it to the Economics Committee for further review. The agreement will then be put to a vote in a plenary session, Al Mal reports. The committee\u2019s approval came despite a vocal minority that resisted the move at [&hellip;]<\/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-650100","post","type-post","status-publish","format-standard","hentry","category-speed-round","tag-enterpriseam","tag-speed-round","wpautop","entry"],"acf":{"mongo_id":"6f5c7ba4-1b4f-45ba-ba7c-93f6bdafb26b","order":"0","is_powered_by":true,"section_story_id":"a8ae28c1-98d8-4f8f-b283-4c228bbc614c","story_type":"1","photo_url":"","photo_position":"above","related_issue":[650088],"teaser":"","voice_url":""},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>House Legislative Committee approves IMF loan - 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\/03\/16\/house-legislative-committee-approves-imf-loan\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"House Legislative Committee approves IMF loan\" \/>\n<meta property=\"og:description\" content=\"The House Legislative Committee approved yesterday Egypt\u2019s USD 12 bn loan agreement with the IMF and has referred it to the Economics Committee for further review. The agreement will then be put to a vote in a plenary session, Al Mal reports. The committee\u2019s approval came despite a vocal minority that resisted the move at [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/egypt\/2017\/03\/16\/house-legislative-committee-approves-imf-loan\/\" \/>\n<meta property=\"og:site_name\" content=\"EnterpriseAM Egypt\" \/>\n<meta property=\"article:published_time\" content=\"2017-03-16T04:05:06+00:00\" \/>\n<meta name=\"author\" content=\"enterpriseam admin\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"enterpriseam admin\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2017\/03\/16\/house-legislative-committee-approves-imf-loan\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2017\/03\/16\/house-legislative-committee-approves-imf-loan\/\"},\"author\":{\"name\":\"enterpriseam admin\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\"},\"headline\":\"House Legislative Committee approves IMF loan\",\"datePublished\":\"2017-03-16T04:05:06+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2017\/03\/16\/house-legislative-committee-approves-imf-loan\/\"},\"wordCount\":249,\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#organization\"},\"keywords\":[\"EnterpriseAM\",\"SPEED ROUND\"],\"articleSection\":[\"Speed Round\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2017\/03\/16\/house-legislative-committee-approves-imf-loan\/\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/2017\/03\/16\/house-legislative-committee-approves-imf-loan\/\",\"name\":\"House Legislative Committee approves IMF loan - EnterpriseAM Egypt\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#website\"},\"datePublished\":\"2017-03-16T04:05:06+00:00\",\"breadcrumb\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2017\/03\/16\/house-legislative-committee-approves-imf-loan\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/enterpriseam.com\/egypt\/2017\/03\/16\/house-legislative-committee-approves-imf-loan\/\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2017\/03\/16\/house-legislative-committee-approves-imf-loan\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/enterpriseam.com\/egypt\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"House Legislative Committee approves IMF loan\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#website\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/\",\"name\":\"EnterpriseAM\",\"description\":\"The State of the Nation\",\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/enterpriseam.com\/egypt\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Organization\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#organization\",\"name\":\"EnterpriseAM\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/logo\/image\/\",\"url\":\"https:\/\/ent.news\/internal\/240894.svg\",\"contentUrl\":\"https:\/\/ent.news\/internal\/240894.svg\",\"caption\":\"EnterpriseAM\"},\"image\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/logo\/image\/\"}},{\"@type\":\"Person\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\",\"name\":\"enterpriseam admin\",\"sameAs\":[\"http:\/\/enterpriseam.testing.projectsarea.com\"],\"url\":\"https:\/\/enterpriseam.com\/egypt\/author\/enterpriseam\/\"}]}<\/script>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"House Legislative Committee approves IMF loan - EnterpriseAM Egypt","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/enterpriseam.com\/egypt\/2017\/03\/16\/house-legislative-committee-approves-imf-loan\/","og_locale":"en_US","og_type":"article","og_title":"House Legislative Committee approves IMF loan","og_description":"The House Legislative Committee approved yesterday Egypt\u2019s USD 12 bn loan agreement with the IMF and has referred it to the Economics Committee for further review. 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The committees will prepare a report on the agreement before it\u2019s\u2026","rel":"","context":"In &quot;Speed Round&quot;","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":650600,"url":"https:\/\/enterpriseam.com\/egypt\/2017\/03\/28\/house-gives-its-final-approval-to-imf-loan-agreement\/","url_meta":{"origin":650100,"position":1},"title":"House gives its final approval to IMF loan agreement","author":"enterpriseam admin","date":"28 March 2017","format":false,"excerpt":"Forgive us for feeling it\u2019s a bit anticlimactic, but: The House of Representatives voted in a plenary session yesterday to approve Egypt\u2019s USD 12 bn bailout agreement with the International Monetary Fund, Ahram Gate reports. Our elected representatives grabbed what might be their last opportunity to bellyache about what they\u2026","rel":"","context":"In &quot;Speed Round&quot;","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":652523,"url":"https:\/\/enterpriseam.com\/egypt\/2017\/01\/12\/cabinet-approves-imf-loan-sends-agreement-to-house-ted-cruz-wants-to-designating-ikhwan-as-terrorists\/","url_meta":{"origin":650100,"position":2},"title":"Cabinet approves IMF loan, sends agreement to House; Ted Cruz wants to designating Ikhwan as terrorists","author":"enterpriseam admin","date":"12 January 2017","format":false,"excerpt":"The Ismail cabinet\u2019s approval of the IMF loan agreement was the focus of the talking heads last evening.Minister of Finance Amr El Garhy spoke with Mehwar\u2019s TV 90 Minutes on the sidelines of a cabinet meeting yesterday that discussed the IMF loan. Cabinet reviewed the economic reform program with a\u2026","rel":"","context":"In &quot;Enterprise+: Last Night\u2019s Talk Shows&quot;","block_context":{"text":"Enterprise+: Last Night\u2019s Talk Shows","link":"https:\/\/enterpriseam.com\/egypt\/category\/enterprise-last-nights-talk-shows\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":650092,"url":"https:\/\/enterpriseam.com\/egypt\/2017\/03\/16\/egpc-to-suspend-all-future-fuel-import-tenders-as-aramco-agreement-back-on-house-plenary-vote-on-imf-loan-agreement-26-march-sameh-shoukry-dmc-interview\/","url_meta":{"origin":650100,"position":3},"title":"EGPC to suspend all future fuel import tenders as Aramco agreement back on; House plenary vote on IMF loan agreement 26 March; Sameh Shoukry DMC interview","author":"enterpriseam admin","date":"16 March 2017","format":false,"excerpt":"Yahduth fi Masr\u2019s Sherif Amer was right on the money with his selection of topics last night, speaking with Oil Ministry spokesman Hamdy Abdel Aziz to get the details on the resumption of Saudi Aramco fuel shipments to Egypt (more on that in the Speed Round, below). Hamdy told Amer\u2026","rel":"","context":"In &quot;Enterprise+: Last Night\u2019s Talk Shows&quot;","block_context":{"text":"Enterprise+: Last Night\u2019s Talk Shows","link":"https:\/\/enterpriseam.com\/egypt\/category\/enterprise-last-nights-talk-shows\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":634477,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/01\/16\/house-legislative-committee-completes-its-review-of-criminal-procedures-act-amendments\/","url_meta":{"origin":650100,"position":4},"title":"House Legislative Committee completes its review of Criminal Procedures Act amendments","author":"enterpriseam admin","date":"16 January 2018","format":false,"excerpt":"LEGISLATION WATCH- The House of Representatives\u2019 Legislative Committee completed yesterday its review of amendments to the Criminal Procedures Act, Ahram Gate reports. The committee postponed to a later date its discussion and vote on contentious articles of the legislation pertaining to pre-trial detention. The amendments, which Cabinet had approved in\u2026","rel":"","context":"In &quot;Speed Round&quot;","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":646440,"url":"https:\/\/enterpriseam.com\/egypt\/2017\/06\/14\/house-legislative-committee-signs-off-on-smurf-island-agreement\/","url_meta":{"origin":650100,"position":5},"title":"House Legislative Committee signs off on Smurf Island agreement","author":"enterpriseam admin","date":"14 June 2017","format":false,"excerpt":"House Legislative Committee signs off on Smurf Island agreement: The House of Representatives\u2019 Legislative Committee voted yesterday in favor of the agreement that would hand the Red Sea islands of Tiran and Sanafir over to Saudi Arabia, Al Ahram reports. The pact, which passed with a 35-8 vote, does not\u2026","rel":"","context":"In &quot;Speed Round&quot;","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":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/650100","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/comments?post=650100"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/650100\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/650088"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=650100"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=650100"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=650100"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=650100"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=650100"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}