'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

kalahari.com

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

 
/News
 
Traffic
Lottery
 
  • Monday Welgemoed - 11:58 AM
    Road name: Jip De Jager Drive
    TRAFFIC LIGHTS not working at Kommissaris Street
  • Monday Milnerton - 11:51 AM
    Road name: Koeberg Road
    TRAFFIC LIGHTS not working at Bosmansdam Road - expect delays
 
More traffic reports...
 

Jobs in Cape Town [change area]

Property [change area]

Travel - Look, Book, Go!

Magical Massinga

Spend 5 nights at the gorgeous Massinga Beach Lodge in Mozambique and only pay for 4 from R13 220 per person sharing. Includes return flights, accommodation, transfers and romantic turndown. Book now!

Kalahari.com - shop online today

2 TV Series for R250

Get 2 TV Series box sets for R250 and save up to R148! Offer valid while stocks last. Shop now!

Mind blowing deals on beauty & fragrances

Save up to 30% off beauty and fragrances. Offer valid while stocks last. Shop now!

Up to 50% off hair care products!

Save up to 50% on professional hair care products at kalahari.com. Offer valid while stocks last. Shop now!

30% off academic books

Score a mind blowing 30% off academic books! Offer valid while stocks last. Shop now!

Mind blowing deals on electronics!

Save up to 35% on electronics. Offer valid while stocks last. Shop 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

BlackBerry Torch 9810

The BlackBerry Torch 9810 gives you the powerful combination of...

From R2740.00

I'm shopping for:

Horoscopes
Aquarius
Aquarius

There is a strong emphasis on relationships. Obsession, emotional disputes, retaliation or competitive actions are highlighted....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.