Luxor4u

News that Defence Minister Abdel Fattah El-Sisi would run for Egypt's presidency is ‘utterly false,' according to a statement released on Friday by Field Marshal.

An interview with military spokesman Ahmed Ali on Daily News Egypt (DNE) sparked rumours that El-Sisi will be a presidential candidate in the upcoming presidential elections.

El-Sisi is "currently a soldier in the armed forces and does not aspire to any other role," Ali stated in the interview published on Thursday. "Assuming that he retired and people suggested he ran for presidency, is this not the democratic process?"

Following the interview, many speculated that El-Sisi would run in the next presidential elections. Some political figures were quick to denounce the move stating that Egypt should have a civilian president.

"El-Sisi is proud of leading the great establishment of the army, and the role it played and is still playing to protect the Egyptian national security through the ages," the statement read, affirming that he is "not looking for more than that."

El-Sisi called on media outlets to be accurate and cautious during "this critical stage in our nation's history."

The Daily News Egypt published a clarification, which Ali shared on Facebook along with El-Sisi's statement, stating that the question was asked "because of El-Sisi’s rising popularity on the streets."

"What colonial Ali was explaining is that the military institute does not control who runs for presidential elections even if he was ex-military," the statement added.

The Daily News Egypt also called on media outlets to "be thorough in their coverage of such sensitive matters and to analyse the interview as a whole, instead of sensualising what the DNE has not reported."

El-Sisi gained popularity after the removal of president Morsi on 3 July, to the content of millions who took to the streets demanding Morsi’s resignation.

Source: http://english.ahram.org.eg/News/76896.aspx

.........though I am sure he has looked in the mirror, like many before him, and thought to himself.......'Ah but, I am a bonny b******, and I think I shall give it ago'.

Why stand when you can get a puppet to do it for you. Lots of nasty decisions to be made (fuel and food subsidies) so if you want to keep your hands clean (and maybe stand at another time) best to stay in the shadows and bide your time.

Note that Sisi's spokesperson avoids a clear cut statement ruling out Sisi standing.

The current government are also looking to avoid decisions which might affect their popularity such as food and fuel. The IMF loan, which would have required them to cut subsidies, is now off the table with the government refusing to discuss it. It will be left to the next government to ruin its popularity by having to agree the loan and make the cuts.

Yes, but..... Egypt has just been given over $20 billion by Saudi Arabia and the UAE, so who needs their paltry $4.8?

LivinginLuxor wrote:Yes, but..... Egypt has just been given over $20 billion by Saudi Arabia and the UAE, so who needs their paltry $4.8?

OH that's gone up Stan, I added it to $12 billion

The business press says that the IMF loan is regarded by commercial and trade finance lenders as a stamp of approval with the effect of increasing confidence in investing and trading in Egypt and therefore on its growth. Loans to the myriad state trading organizations, which crowd the Egyptian economy, would be easier. For example the current cost of government borrowing on the international market, (which is prohibitively high at the moment with insurance on default @9% per year), would drop.

The IMF loan is one thing but it opens up lots of other financial opportunities for Egypt. The stamp of approval will also have a positive effect on the currency.