18 December 2012

Egypt: Cancelled Constitutional Declaration Never Intended to Forfeiture Right of People to Go to Courts

Presidential Spokesman Yasser Ali said during a press conference on 17/12/2012 that the cancelled constitutional declaration that was issued on November 21, 2012 was never intended to forfeiture the right of the people to go to courts.

Presidential Spokesman Yasser Ali discredited reports alleging that Central Bank of Egypt Governor Farouq el-Oqda has resigned.

Egypt's economy has been facing major challenges for two years and the State and the Government are exerting their utmost to keep the economy afloat through encouraging local, Arab and international investments and shoring up the national currency reserves so as not to overburden the ordinary citizen and get past the transitional period by fulfilling the people's will as soon as possible, he said.

He echoed President Mohamed Morsi's repeated assertions on the importance of forbearance to overcome the current economic constraints without saddling the economy with more burdens.

He also said that Egypt's talks with the International Monetary Fund over a 4.8 billion dollar loan have not been suspended, noting that the issue is still being under study with the IMF.

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