The Secretary of the National Assembly of Kuwait, Representative Osama Al-Shaheen, refused to “obey the orders of the International Monetary Fund” and called on the Gulf countries to provide Egypt with new funding.
In a statement at the council’s media center, he said: “Because public money has legal and constitutional immunity and an oath we are sworn to uphold, I caution the government against obeying the directives or orders of the International Monetary Fund.”
He pointed out that the International Monetary Fund “issued a statement on Wednesday calling for new financial resources from the countries of the Cooperation Council for the Arab States of the Gulf in the amount of $14 billion.”
The Kuwaiti MP warned his country’s government against “obeying such directives that are detrimental to public money and are inconsistent with the will of the people and their representatives to return the dormant funds of the people that are parked there.”
He also warned “against injecting any new funds and prolonging the process of restoring recoverable deposits.”
The International Monetary Fund called on what it called “Egypt’s allies in the Persian Gulf” to fulfill their investment commitments, which amount to billions of dollars in Egypt to be exchanged for shares in Egyptian assets and companies, within the specified time frame. ensure that the government covers the external financing gap in the coming years.
The IMF has described investment from the Gulf Arab countries as “an important part of the program’s financing strategy.”
Source: Kuwaiti newspaper Al-Rai.