Egypt Cuts All Ties With Syria
Speaking at a conference on the Syrian uprising in Cairo on Saturday, President Mohamed Morsi announced that Egypt will be cutting all ties with Syria. He ordered the Syrian embassies in Damascus and Cairo to be closed, and called for imposition of no-fly zone. Morsi also said Egypt will begin providing Syrian opposition forces with financial aid and support for the Lebanon-based terror group Hezbollah would end. This is a policy shift for Morsi which backed the organization against Israel in the Second Lebanon War seven years ago. Morsi said “We supported Hezbollah during Lebanon war and today we stand…
Egyptians Brace for Austerity as Govt. Seeks IMF Loan
Wednesday, representatives from the International Monetary Fund (IMF) will arrive in Cairo to enter into new rounds of negotiations, regarding a proposed $4bn loan to the country. Egypt, which has continued to struggle with social and economic difficulties since the political unrest of 2011 that resulted in the ousting of former President Hosni Mubarak, is seeking the IMF aid in the hopes of bolstering its rapidly deteriorating economy. Egypt’s current President Mohammed Morsi is reported to have initiated negotiations with IMF in November. However, he was forced to delay finalization of any potential initial deals until December, due to political…
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