Parliament in dark over bank privatisation
News||5 October 2007|update 57|
The Egyptian government is facing criticism from MPs over plans to sell off the country's publicly owned banks, as part of an $8.7 billion financial sector reform programme that has the backing of the World Bank, the IMF, the AfDB and USAID. In July, the government announced a plan to sell 80 per cent of Banque de Caire, one of the four largest public banks, to a "strategic investor". Legislators had been told of a plan to merge it with the second largest public bank, Bank Misr, but nothing of transferring either into private hands. There are concerns over potential layoffs and the lack of transparency in the privatisation.
This text may be freely used providing the source is credited.
Published: 5 October 2007 , last edited: 5 October 2007
Viewings since posted: 7590
Climate Investment Funds Monitor 7: April 2013 25 April 2013
Working paper: The private sector and climate change adaptation: International Finance Corporation investments under the Pilot Program for Climate Resilience 24 April 2013
The UK's role in the World Bank and IMF: Department for International Development and HM Treasury 13 March 2013
The World Bank and industrial policy: Hands off or hands on? 6 December 2012
Climate Investment Funds Monitor 6: October 2012 26 October 2012