- President Mohamed Morsi's Constitutional Decree - December 9, 2012 (Arabic) (English)
- Final Draft of Constitution, published November 29, 2012 (Arabic) (English) (Audio)
- President Mohamed Morsi's Constitutional Decree - November 22, 2012 (Arabic) (English)
- Draft of the Constitution, published October 24, 2012) (Arabic)
- Draft of the Constitution, published October 16, 2012 (Arabic) (English)
- President Mohamed Morsi's Decree Pardoning January 25 Prisoners - October 8 (English) (Arabic)
- President Mohamed Morsi's Constitutional Declaration - August 12 (English) (Arabic)
- President Mohamed Morsi’s Decree reinstating the dissolved parliament – July 8 (English) (Arabic)
- Renaissance (Nahda) Project (English)
- Morsi Meter (English) (Arabic)
- SCAF Amendments to Interim Constitution - June 17, 2012 (English) (Arabic)
- Interim Constitution (full text, English and Arabic), ratified by popular referendum on March 23, 2011)
- Law on the Presidential Election, No. 174, 2005 (Arabic)
- Electoral laws for the People’s Assembly and Shura Council (full text, Arabic, amended July 19, 2011)
- Law on Non-Governmental Organizations, No. 84/2002 (English)
- Law on the People’s Assembly, amended October 2011 (PDF, Arabic)
- Supra-Constitutional Principles (English) (Arabic)
- The Final Draft Wording of the Articles on Defense and National Security in the New Constitution (English) (Arabic)
- Leaked Articles of the Draft Constitution (English)
Egyptian Government Resources
- Official Facebook page of President Mohamed Morsi (Arabic)
- Official Facebook page of Prime Minister Hesham Qandil (Arabic)
- Official Facebook page of Presidential Spokesman Yasser Ali (Arabic)
- Official Facebook page of the Supreme Council of the Armed forces (Arabic)
- Official website of the Cabinet (English) (Arabic)
- Ministry of Interior (English) (Arabic)
- Ministry of Foreign Affairs (English) (Arabic)
- Ministry of Finance (English) (Arabic)
- Ministry of International Cooperation (Arabic)
- Ministry of Social Solidarity (Arabic)
- Ministry of Information (Arabic)
- Ministry of Industry & Foreign Trade (English) (Arabic)
- Ahram Weekly (English)
- Egypt Independent (English)
- Daily News Egypt (English)
- Ahram Online (English)
- Akhbar al-Youm (Arabic)
- Ahram (Arabic)
- Ahram Gateway (Arabic)
- al-Masry al-Youm (Arabic)
- al-Shorouk (Arabic)
- al-Wafd (Arabic)
- Masrawy (Arabic)
- EGYNews (Arabic)
Think Tanks and NGOs:
- al-Ahram Center for Political and Strategic Studies (English)
- Arab Forum for Alternatives (English) (Arabic)
- Cairo Institute for Human Rights Studies (English) (Arabic)
- Egyptian Initiative for Personal Rights (English) (Arabic)
- Adl (Justice)
- al-Asala (Authenticity)
- Building and Development
- Democratic Front
- al-Dostour (Constitution)
- Freedom and Justice
- Ghad (Tomorrow)
- Ittihad (Union)
- Karama (Dignity)
- al-Masriyin al-Ahrar (Free Egyptians)
- Masr al-Hurriya (Egypt Freedom)
- Nour (Light)
- Popular Alliance
- Reform and Development
- Social Democratic
- Sufi Liberation
- al-Tayar al-Masry (Egyptian Current)
At a critical stage, during which Egypt is rearranging and resetting its priorities and strategies, it is of great importance to remember that the foundations of proper economic and political management require an integrated vision. This vision must precede both micro-level steps and an outline for the main strategic goals of a country, before starting tactical projects. This specifically is the main problem intensifying the hesitancy to accept or reject the IMF’s credit facility.
Hence, the dilemma facing decision makers is about an integrated economic vision, rather than a dilemma of borrowing as a micro-level policy in of itself; especially since the money is being borrowed from an international political institute like the IMF. The step of taking a loan might be viable, however I am more concerned about avoiding moving forward with a flawed vision or with a complete lack of vision at all.
In fact, this uncertain strategic scene leads us to automatically look at the lack of necessary information, or a lack of transparency, about the conditionality of the loan and its economic and political consequences. This is compounded by the fact that the government has not yet disclosed the country's economic situation fully and accurately, including the volume of its foreign reserves, the budget deficit, etc.
In my opinion, transparency about the reasons to accept the loan and its conditionality are the two main prerequisites for formulating an initial proposal, particularly when looking at the Malaysian example, where a severe crisis in the late nineties almost ravaged the country.
At this time, in an unprecedented move, Malaysia rejected an IMF loan. It is not necessary to go into the reasons the IMF loan was rejected, as that has been done by many before me. However, what caught my attention was Malaysian Prime Minister Mahathir Mohammed’s decision to establish a national council, comprised of investors, businessmen and economists with different ideologies. The council held long daily session for two years until they were able to emerge from the crisis. This highlights that critical decisions affecting the future of a country, politically and economically, cannot be monopolized by one person's point of view regardless of his/her proficiency.
My suggestion, which is quite similar to this idea, is to launch workshops in which Egypt’s economic experts from all schools of thought, be it Islamic, capitalist or socialist, both at home and abroad, can participate. Through these workshops, they can collect the varied yet valuable ideas creating a pool of innovative solutions that break away from a pattern of a narrow repetitive vision for solving the liquidity and financing crises that we face. At the very least, they will form an integrated vision that helps policy makers in the decision making process, rather than insisting that there is no other alternative for this step.
Talk about change in IMF policies after the disastrous international financial crisis in 2008 cannot be guaranteed, since the main rule that cannot be changed is the burden of the loans either in the form of financial commitment or in the form of restricting the political decision, the latter of which is more serious. Additionally, our current situation does not allow us to bet on the goodwill of others.,
The approval of the World Bank loan will have a positive impact on raising Egypt’s credit rating, which will result in more international confidence in the economy and hence attract more investments - however, why is this the only approach being considered? This is an another example of stereotypical thinking which could be guarded against with Egyptian diplomacy taking up a distinguished role in the coming period, by opening new doors and adopting new strategies in building foreign relations. For instance, Middle East Rating and Investors Service chairman, Amr Hassanein told Egyptian daily al-Ahram ,after President's Morsi visit to China, "International credit rating agencies monitor the movements of the presidents and what they do in terms of signing agreements that attract real investments, and President Morsi’s visit to China sends a strong message to the world that the new Egyptian regime is trying to enhance its relations with global economic powers, away from any ideologies."
I am still interested in focusing on the main outline since I am convinced that neither one article nor a series of articles can provide ready-made solutions. That said, it is worthwhile to suggest some alternatives that can be considered and studied. One of these is opening the door to financing infrastructure projects using the Build-Operate-Transfer (BOT) system, with the condition of sustainable development that ensures the preservation of the country's assets and the rights of its people. Another solution could be the public offering of stocks to Egyptians living abroad, in order to inject foreign currency liquidity into the market.
Nader Bakkar graduated from the University of Alexandria in Egypt with a Bachelor’s Degree in Commerce, and is currently pursuing his MBA. He is one of the co-founders of al-Nour Party. He is a member of the party’s Supreme Committee and is its official spokesman. Bakkar was also elected as a member of Egypt’s Constituent Assembly.
Trackback URL for this post:
EgyptSource, a project of the Rafik Hariri Center for the Middle East, follows Egypt’s transition and provides a platform for Egyptian perspectives on the major issues – economic, political, legal, religious and human rights – that are at stake in the post-Mubarak era.
If you are interested in submitting an article for publication on EgyptSource, please send an inquiry via email with a short outline of your idea.
The views expressed in EgyptSource are solely those of the authors and do not necessarily reflect the views of the Atlantic Council, its staff, or its supporters.
Follow us on Twitter: @EgyptSource
Click here to sign up for the weekly EgyptSource newsletter.
Faces of Egypt
Journalist and videographer Abanoub Emad explains the drive behind his work: “I want to cover the truth..If it was just a job for me I wouldn't risk my life, but this is what I want to do…and this is what differentiates the quality of work. You can tell who's doing it for the sake of doing it, and who's doing it because it's what they love to do”
At twenty-two, Amr El Salanekly has won the 2012 Clinton Global Initiative fellowship, co-founded a social incubator and an educational platform for underprivileged kids, turned down a job with Bangladeshi Nobel Laureate Mohammad Yunus’ Grameen Bank, and raised hundreds of thousands of Egyptian pounds for community projects in Egypt.
Check out the rest of the Faces of the New Egypt series here.
About the Contributors
Alaa Al Aswany, the Arab world's bestselling novelist, is the author of The Yacoubian Building, Chicago, and Friendly Fire. His work is published in thirty-one languages worldwide. Read his EgyptSource posts here.
Yussef Auf is an Egyptian judge and 2012 Humphrey Fellow at American University’s Washington College of Law. He is currently pursuing a PhD in Constitutional Law and Political Systems at Cairo University. Read his EgyptSource posts here.
Amr Hamzawy joined the Department of Public Policy and Administration at the American University in Cairo in 2011, where he continues to serve today. He is a former member of parliament and a member of the National Salvation Front. Read his EgyptSource posts here.
Haitham Tabei is a special correspondent for the Washington Post and Asharq Saudi newspaper in Cairo.
Read his EgyptSource posts here.
- The Arabist
- Abu Aardvark (Marc Lynch)
- A Sense of Belonging
- Dalia Ziada
- Daniel W. Drezner
- Democracy Digest
- The Egypt Report
- Egyptian Chronicles
- Felix Arabia
- Foreign Policy Passport
- Foreign Policy Association
- Hossam El-Hamalawy
- MEI Editor’s Blog
- Middle East Post
- Middle East Progress (CAP)
- POMED Wire
- Rantings of a Sandmonkey