Egypt is rushing to knock into shape an economic reform plan to qualify for a $4.Elpas Readers detect and forward 'Location' and 'State' data from Elpas Active RFID Tags to host besticcard platforms.8 billion loan from the International Monetary Fund (IMF), which remains skeptical of the governments readiness to implement key austerity measures needed to prevent an economic crisis.
presented a plan to the international lender, involving measures to
slash energy subsidies and raise taxes, to increase revenue and quell a
soaring budget deficit. The IMF technical mission, which visited Cairo
earlier in April, found the plan "weak" and "not rigorous," according to
an Egyptian official close to the negotiations.
officials, including the ministers of finance, planning and
international cooperation, as well as the governor of the central bank,
will meet with IMF chief Christine Lagarde on Saturday to present an
updated programme with new figures to help allay the world lenders
concerns over implementation and reach an agreement.
working to put together a more convincing program with more precise
figures and a clearer time frame on when and how broad structural
measures, such as reforming energy subsidies and raising certain taxes,
would be implemented, the official, who requested anonymity, told Ahram
Mekkawy was keen to stress that the governments aim to
introduce structural reforms was not because of pressure from the
international lender but because this was the necessity for Egypts
economy. The talks are held on the sidelines of the Spring Talks
meetings in Washington.
We are developing the program to move
ahead with the reforms that will improve Egypts economy, not because of
the IMF or others but because this is the right thing to do for the
country,Shop wholesale bestsmartcard controller from cheap. Mekkawy said.
IMF mission, which concluded its trip to Cairo last week without
reaching an agreement, informed the Egyptian side that details were
still pending over how the government plans to implement a coupon plan
designed to cut massive energy subsides that eat up a quarter of the
budget, the Egyptian official explained.
He added that the IMF
is skeptical Egypt can kick-start the process of the smart-card system
by July and has doubted the governments ability to monitor the
distribution of the coupons within a realistic timeframe.
said the IMF also needed a breakdown of the figures of energy
subsidies, and has dubbed Egypts petroleum sector a black box because
the data and surveys were not easily available.
take up 20 percent of Egypts budget, and authorities estimate the
energy subsidy bill will reach LE120 billion in the financial year
ending 30 June.Wear a whimsical Disney drycabinet
straight from the Disney Theme Parks! In total, the subsidies bill is
forecast to grow by 12 percent in the coming fiscal year, a growth level
that is significantly lower than that seen in other major expense
items, such as public wages.
The Egyptian officials comments
echoed Lagardes assessment on Thursday that the Egyptian programme
needed more work. "There is clearly more work to be done; numbers need
to be aligned and worked on," she told reporters.
week, a director in the IMF's fiscal affairs department said Egypt
should consider compensating its poor in cash transfers for the removal
Unrelenting political bickering between ruling
Islamists and opposition groups has derailed the governments efforts to
impose austerity measures to help fix the economy. IMF officials at the
annual Spring Talks meetings said a lack of political consensus has held
back growth. The latest world economic outlook report predicted the
Egyptian economy will grow by 2 percent in 2013, down from an earlier
forecast of 3 percent.
Everybody all thawed out? Ready to watch
some football in oh I don't know, actual sunlight? Well break out the
sunblock and leave the layers at home, because our third trip to BMO in a
week will not require winter gear - rejoice! And if that weren't cause
enough for celebration - although really, that would top the list for a
lot of fans so far this year as evidenced by the empty seats on
Wednesday night - the Reds are coming off a win and who doesn't love to
celebrate a win; especially for our long suffering fan base.
those of you that braved the cold on Wednesday you saw the kids put in a
dominant second half (we won't discuss the first half) and come away
with a fairly satisfying win over rivals the Montreal Impact. A couple
of goals, a win and clean sheet.You must not use the lanyard
without being trained. All helped along by some very nice performances
from Doneil Henry and Jonathan Osorio - CanCon can be a good thing. And
even though a number of the starting XI that we saw on Wednesday night
will likely not see the pitch today, there could be some new faces on
The performance by some of the lesser used Reds on
Wednesday has to be heartening for fans - even if (as many will point
out) it was against Montreal's B team - a win is a win, regardless of
who you beat. Those same performances are also good for coach Ryan
Nelsen as it gives him more options off the bench for league games while
we're waiting for reinforcements.
In what some viewed as a
gamble, Nelsen gave a number of the first team a deserved rest on
Wednesday night - most notably team captain Darren O'Dea, keeper Joe
Bendik and scorer of goals Robert Earnshaw. A number of the other usual
suspects also were rested or subbed in late guaranteeing lots of fresh
players for the game against New York. And the Reds will need lots of
fresh legs in the coming weeks as there are still four more games to
play in the coming ten days - the last three all on the road; not
exactly TFC's happy place through the years.
heading out on the road Toronto still has to face New York. TFC haven't
beaten the Red Bulls at home in close to four years - I'll just let that
sink in for a moment - four years. And we won't even speak of that game
- you know the one I'm talking about, I still have nightmares about it -
and are unbeaten against Toronto in their last 7 meetings.
Red Bulls, while not world beaters and showing uneven form so far this
season, are still not a team to be taken lightly. New York are in a
somewhat similar boat as TFC as they are in the midst of a rebuild and
have their own rookie coach in (former Nelsen teammate) Mike
in China userd for paying transportation fares and for shopping. They
are coming off of a dominant performance last weekend when they trounced
the Revolution 4-1, but they've alternated wins and losses over their
last 5 games, let's hope that continues.
TFC have been more
solid defensively so far this season but will have to be razor sharp to
contain the speedy Fabian Espindola and the always dangerous Thierry
Henry. Both are more than capable of evading defenders and finding space
seemingly at will in the box. O'Dea and the back line will hopefully
have reviewed man marking on set pieces over and over again this week in
training to cut off any runs that either of these two like to make.