Hani Qadri, a key member of Egypt’s negotiating team with the International Monetary Fund (IMF) for the $4.8bn standy loan arrangement, has resigned with effect from 30 April. The official, who also held the post of assistant minister of finance and has been involved in coordinating Egypt’s relations with the IMF and the World Bank, had originally submitted his resignation last December. Dr Qadri has been replaced by ‘Abd Allah Shihata, economic adviser to the minister of finance and head of the economic committee of the Muslim Brotherhood’s Freedom and Justice Party.

Mr Qadri has not yet revealed the reasons for quitting his job at a crucial time and his resignation does not bode well for the ongoing negotiations for the IMF loan, Egypt’s media report. A local newspaper al-Watan said that Dr Qadri had come under increasing pressure from the Freedom and Justice Party and had also differences with Dr Shihata. Other reports speak of a conflict at the ministry of finance between the newly-appointed pro-Muslim Brotherhood team of economists and the older guard. (CONTINUED - 352 WORDS)