Parliament in dark over bank privatisation (Bretton Woods Project)

Parliament in dark over bank privatisation

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.

Parlamentarios en la oscuridad sobre la privatización del Banco News|Bretton Woods Project|26 October 2007|update 57|url
El Gobierno egipcio enfrenta críticas de Miembros del Parlamento sobre los planes de vender los bancos nacionales del país, como parte de un programa de reforma del sector financiero de $8.700 millones, lo cual tiene el respaldo del Banco Mundial, el IMF, el AfDB y USAID. read article...

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Published: 5 October 2007 , last edited: 5 October 2007

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Parliament in dark over bank privatisation

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