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Egyptians’ support for IMF loan connected to their understanding of economic reform programme: El-Erian

International economic expert Mohamed El-Erian said that Egypt’s success in handling the International Monetary Fund (IMF) loan is subject to the economic reform programme being written by Egyptians in order to take the citizens’ situation into consideration. El-Erian added, in an interview with TV anchor Lamis El-Hadidi on CBC channel from the United States (US), …

Daily News Egypt

Countering the contagious West

By Mohamed El-Erian NEWPORT BEACH: Imagine for a moment that you are the chief policymaker in a successful emerging-market country. You are watching with legitimate concern (and a mixture of astonishment and anger) as Europe’s crippling debt crisis spreads and America’s dysfunctional politics leave it unable to revive its moribund economy. Would you draw comfort from …

DNE

Europe’s Central Bank at sea

By Mohamed El-Erian NEWPORT BEACH: Central bank purists are confused. How can the European Central Bank, a Germanic institution, now be in the business of buying government bonds issued by five of its 17 members? Why is this monetary authority acting like a fiscal agency? Isn’t the ECB supposed to be a politically independent and operationally …

DNE

America’s Dangerous Debt Ceiling Debate

By Mohamed El-Erian NEWPORT BEACH: It has been raised more than 70 times in the last 50 years, mostly without commotion. It must be raised again this summer if the United States government is to continue paying its bills on time. But now America’s debt ceiling has become the subject of intense political posturing and touch-and-go …

DNE

Hobble and muddle

By Mohamed El-Erian NEWPORT BEACH: Colleagues from around the world recently gathered at PIMCO’s headquarters in California for our annual Secular Forum, when we leave behind high-frequency issues for a few days and, instead, debate what the next 3-5 years hold for the global economy. The perspective is global, informed by the insights of outside speakers, …

DNE

Sleepwalking through America’s unemployment crisis

By Mohamed El-Erian NEWPORT BEACH: It was relegated to the Q&A session, rather than featured prominently in the opening statement, at last week’s first-ever press conference of US Federal Reserve Board Chairman Ben Bernanke. It is an issue that too many in Washington, DC are willing to dismiss as “transitory,” despite visible evidence to the contrary. …

DNE

How risky is the global economy?

By Mohamed El-Erian NEWPORT BEACH: Three years after the global financial crisis, the global economy remains a confusing place — and for good reasons. Should we draw comfort from gradual healing in advanced countries and solid growth in emerging economies? Or should we seek refuge against high oil prices, geopolitical shocks in the Middle East, and …

DNE

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