CAIRO: The Muslim Brotherhood's presidential candidate Khairat Shater said that he had asked the custodial military government if it should either postpone borrowing from the IMF, or speed up forming a new government. “It is not logical that I approve a loan that the transitional government would take for two or three months, and they may misuse this loan, according to their points of views, then demand another permanent government to repay in eighteen months,” Shater said to journalists . “I will spare no efforts to convince the authorities in Egypt to delay this loan, even till the presidential race is over” he added. IMF has confirmed before it agrees to a loan, the Egyptian government must first have an agreement with political groupings, especially the Brotherhood's Freedom and Justice Party, which nearly took half the seats in the new parliament. “Loan talks will take more time, we have to make sure that we will use it well, also we should be able to repay in 18 months” an expert told Bikyamasr.com. Egypt is striving to seal the $3.2 billion with IMF to overcome lots of economic problems, which hit Egypt since 25Jan revolution, especially the foreign reserves which is falling in its lowest level in four years. Khairat Shater statements took the Egyptian shares to lowest level in six weeks, as most investors will not buy in the market until there is clarity on the government's IMF loan talk, financial experts thought.
