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| Africa North |
| Egypt's Morsi adds more Brothers to his cabinet |
| 2013-01-07 |
| [CS MONITOR] Egypt swore in 10 new ministers on Sunday in a Cabinet shake-up aimed at improving the government's handling of the country's ailing economy ahead of talks this week with the International Monetary Fund over a badly needed $4.8 billion loan. Because Islam is the answer. To everything. The reshuffle, which President Mohammed Morsi had promised in response to public anger over Egypt's economic malaise, affected two key ministries, the interior and finance. It also solidified Islamist control of the government, putting three portfolios in the hands of members of the president's Muslim Brotherhood. Funny how it worked out that a cabinet reshuffle meant more Muslim Brothers. I'm sure the world financial community gets the message... The dire state of Egypt's economy was punctuated Sunday by new central bank figures that put December's foreign currency reserves at $15.01 billion, down $26 million from a month earlier. The reserves have dropped by more than half since the uprising that ousted longtime ruler Hosni Mubarak in February 2011. |
| Posted by:Fred |