Belfast Telegraph

Friday 6 March 2015

Morsi shakes up finance ministry

Ten new ministers were sworn in yesterday in a shake-up aimed at improving the government's handling of the ailing economy ahead of talks this week with the International Monetary Fund over a badly needed $4.8bn loan.

The reshuffle of the interior and finance ministries, which President Mohamed Morsi had promised in response to public anger about the economic malaise, put three portfolios in the hands of members of his Muslim Brotherhood.

It came as central bank figures put Egypt's foreign currency reserves at $15.01bn in December, down $26m from a month earlier. Reserves have dropped by more than half since the uprising of February 2011.

COMMENT RULES: Comments that are judged to be defamatory, abusive or in bad taste are not acceptable and contributors who consistently fall below certain criteria will be permanently blacklisted. The moderator will not enter into debate with individual contributors and the moderator’s decision is final. It is Belfast Telegraph policy to close comments on court cases, tribunals and active legal investigations. We may also close comments on articles which are being targeted for abuse. Problems with commenting?

Latest News

Latest Sport

Latest Showbiz