'Egypt parliamentary polls seen in April'

2013-01-09 14:18

Multimedia   ·   User Galleries   ·   News in Pictures Send us your pictures  ·  Send us your stories

Cairo - Egypt, battered by political turmoil and an economic crisis that has sent the local currency tumbling, will hold a parliamentary election in April, officials said on Wednesday.

Under Egypt's new constitution approved by a referendum last month, President Mohammed Morsi must set an election date within 60 days of when he signed the document into law on 26 December.

"The vote for parliament will take place in April," said an official at the presidency, who asked not to be named. "The exact date for the vote has not been fixed yet and the president will announce it no later than 25 February."

The Islamist-led government is trying to clinch a $4.8bn loan from the IMF to ease economic strains worsened by a turbulent political transition since a popular uprising toppled President Hosni Mubarak in Feb. 2011.

Unrest over the constitution rammed through by Morsi late last year prompted the Islamist president to withdraw tax rises seen as part of a programme provisionally agreed with the International Monetary Fund.

The IMF is expected to send a technical team back to Cairo within two to three weeks to discuss the loan, which is vital to restoring a measure of confidence in the economy and in the Egyptian pound, which fell to a new low at a central bank auction of US dollars on Wednesday.

The pound has lost 5 percent of its dollar value since the central bank adopted a new system of dollar sales on 30 December designed to stem the currency's fall. The pound has dropped 10.7% since Mubarak's overthrow nearly two years ago.

Qatar threw Egypt a financial lifeline on Tuesday, saying it had lent the country another $2 billion and given it an extra $500 million outright to help control the currency crisis, which has drained foreign reserves to a critical level.

Egypt has not had a lower house of parliament since the constitutional court dissolved the Islamist-dominated body in June. Legislative power now rests with the upper house.

"With a new parliament in place, Egypt would have completed its transition with an elected president, a constitution and a parliament," said another official at the presidency.

The Freedom and Justice Party, the political wing of the Muslim Brotherhood, which propelled Morsi to power in a June election, was the biggest bloc in the previous parliament.

Read more on:    imf  |  mohammed morsi  |  egypt  |  north africa
NEXT ON NEWS24X
SHARE:

Read News24’s Comments Policy

24.com publishes all comments posted on articles provided that they adhere to our Comments Policy. Should you wish to report a comment for editorial review, please do so by clicking the 'Report Comment' button to the right of each comment.

Comment on this story
0 comments
Add your comment
Comment 0 characters remaining
 

Inside News24

 
SPONSORED CONTENT
When is a mountain more than just a mountain? 2014-12-18 07:26

When it’s an adventure! A group of Old Mutual employees found out how much is enough courage, endurance and camaraderie to take on Africa's highest peak.

/News
 

Joburg hot spots for cocktails, craft beer, tapas and wine!

It’s the season to be jolly – so we’ve rounded up some new Joburg hot spots!

 
 

I love summer.24

The craziest deaths of 2014
How to make this a sensual, sexy summer!
This is what South Africans Googled in 2014!
This hilarious song is your new holiday anthem

Jobs in Cape Town [change area]

Property [change area]

Travel - Look, Book, Go!

Kalahari.com - shop online today

2DAYS ONLY – 30% off Appliances

Coffee makers, blenders, fans, juicers and more. T&Cs apply. Shop now!

2 DAYS ONLY – 40% off books

Get 40% off when you buy 2 books. For two days only! T&Cs apply. Buy now!

Up to 50% off on outdoor gear

Save on chairs, blankets, cooler bags, umbrellas and more. Shop now!

Save on Samsung

Cameras, mobile phones, TVs, Tablets and more. While stocks last. Shop now!

Grand Theft Auto 5

Now available on PS4, Xbox One and PC from R649. Buy now!

OLX Free Classifieds [change area]

Samsung Galaxy s4

Mobile, Cell Phones in South Africa, Western Cape, Cape Town. Date October 24

Best bargain in big bay

Real Estate, Houses - Apartments for Sale in South Africa, Western Cape, Cape Town. Date October 25

VW Golf 6, 1.6 Trendline (Excellent condition)

Vehicles, Cars in South Africa, Western Cape, Cape Town. Date October 25

Horoscopes
Aquarius
Aquarius

You may be emotionally defensive or reserved today. You need to step up today as there may be extra responsibilities to deal with....read more

There are new stories on the homepage. Click here to see them.
 
English
Afrikaans
isiZulu

Hello 

Create Profile

Creating your profile will enable you to submit photos and stories to get published on News24.


Please provide a username for your profile page:

This username must be unique, cannot be edited and will be used in the URL to your profile page across the entire 24.com network.

Settings

Location Settings

News24 allows you to edit the display of certain components based on a location. If you wish to personalise the page based on your preferences, please select a location for each component and click "Submit" in order for the changes to take affect.








Facebook Sign-In

Hi News addict,

Join the News24 Community to be involved in breaking the news.

Log in with Facebook to comment and personalise news, weather and listings.