Egyptian president fires finance, interior ministers

Sun Jan 6, 2013 4:32AM GMT
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Egyptian President Mohamed Morsi has fired the country’s finance and interior ministers in a partial cabinet reshuffle.

On Saturday, the sources revealed that General Mohamed Ibrahim will replace former Interior Minister Ahmed Gamal El-Din and Al-Mursi Al-Sayed Hegazy will take the Finance Ministry job from Mumtaz al-Saaed, Reuters reported.

The North African country’s economy nosedived after the revolution that toppled former dictator Hosni Mubarak in February 2011.

The Egyptian president recently came under fire from leftist groups and young revolutionaries for requesting a loan worth USD 4.8 billion from the International Monetary Fund (IMF). They say such a loan could worsen the situation for Egyptian.

Earlier in the day, the IMF said it would dispatch its Middle East and Central Asia director on Monday to discuss the USD 4.8 billion loan and “possible IMF support for Egypt” with Egyptian officials.

Morsi has downplayed the economic crisis in the country saying, “General indicators for the social and economic situation have shown some noticeable progress.”

Since Morsi took office in June 2012, thousands of Egyptians have held demonstrations to demand the implementation of the goals of the country’s revolution.