Egypt's next president will face a terrifying economy

Wrote the Christian Science Monitor that the next Egyptian president, whether from the Muslim Brotherhood or former ally Mubarak, will face a terrible economy where he will begin his presidency with less than half of the foreign exchange reserves, which was owned by Egypt before the revolution.The newspaper said that there is a definite fact will face the winner of the presidential election about the economy and will not address even by the most brilliant and fairest constitution in the history of humanity, which is that the Egyptian economy in really bad condition.
Foreign investment has dried up and local over the past year while standing stagnant economy and population continues to grow. And millions of Egyptians rely on subsidized bread and fuel to keep pace with their daily lives, and these government subsidies put tremendous pressure on the state treasury.
The last reminder of this matter was published figures of foreign exchange reserves before yesterday, falling to $ 15.1 billion in March / March from 15.7 billion at the end of February. The good news is that this was the smallest decline in a single month since Mubarak was deposed in February 2011. But it's still a decline of 3.8%, which is less than half of the $ 36 billion that was in the Central Bank of Egypt in December / December 2011, before the start of the revolt against Hosni Mubarak.
The newspaper pointed out that the country is currently foreign exchange affordable to cover about three months of imports, and this is not about imports foreign cars or Hollywood movies, Egypt is the largest importer of wheat in the world, with about half of crops country comes from overseas. For reasons national refused to Egypt in June / last June loan three billion dollars from the World Bank's concessional. The government is seeking the junta-backed now to ask for the same amount from the International Monetary Fund.
The node here is that this agreement will not be signed before June next, and even then, the IMF seeks to clear assurances of political forces such as the Muslim Brotherhood in return. But Freedom and Justice party emerged from the group was wary of foreign powers, and was occasionally launches attacks against foreign intervention focused.
And hostility to foreign lenders such as the International Monetary Fund and the World Bank and widespread in Egypt, and then this makes sense politically, but the country is in dire need of cash and this fact will face Egypt, regardless of who wins the presidency.