Christine Lagarde is saying that the decision on the $12 billion will be delayed until Sisi can prove that he can actually impose the slave conditions without interference; which means, again, the decision to delay the loan approval was due to interference….it has made them nervous about the ability of the regime to carry through on the “reforms” without a dangerous backlash.
They want everything to be in place, all conditions extent and secured before they commit to the loan; although this has never been required by the IMF before releasing funds.
In Greece, for example, they received the biggest loan in history, just as Egypt is set to receive the biggest loan ever to the Middle East; but when the loan to Greece was granted the conditions did not have to be fulfilled before the money was released…just agreed upon.
But that is because the Greeks were opposing Austerity through the political system, not the private sector, and the political system was shackled already and impotent; like Egypt
The difference here is the threat to private sector interests.
It is, therefore, more urgent, and more important than ever to intensify the pressure on corporations in Egypt, specifically declaring that Austerity measures, neoliberal policies, will be answered by punitive action against foreign investments and multinationals.
http://www.bloomberg.com/news/articles/2016-10-08/lagarde-says-egypt-has-more-action-to-take-for-imf-loan-approval
External Context سياق خارجي
http://www.bloomberg.com/news/articles/2016-10-08/lagarde-says-egypt-has-more-action-to-take-for-imf-loan-approval