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Egypt ex-finance minister gets life in absentia

A Cairo court on Tuesday sentenced Egypt's former finance minister Yussef Boutros-Ghali to life in prison in absentia on corruption charges, judicial sources said. Boutros-Ghali, who served as finance minister under ousted president Hosni Mubarak, is accused of squandering public funds to the value of 20 million Egyptian pounds (almost $3 million), the court said. After fleeing Egypt in 2011, he was sentenced to 30 years in absentia in a separate fraud case.

IMF, Egypt hope to reach loan agreement in 'weeks'

The International Monetary Fund and Egypt hope to conclude talks for a loan deal "in the coming weeks", they said in a joint statement Sunday. The statement came after IMF Managing Director Christine Lagarde met an Egyptian delegation in Washington this weekend that included Central Bank of Egypt Governor Hisham Ramez and Finance Minister Al-Mursi Hegazy.

Egypt justice minister quits, cites Islamist protest

CAIRO (Reuters) - Egypt's Justice Minister Ahmed Mekky has resigned in protest at "an assault" on the judiciary by President Mohamed Mursi's Islamist backers, a spokesman said on Sunday, underlining mounting tensions between the judiciary and the executive. Mekky submitted his resignation to Mursi on Saturday, said the spokesman, Ahmed Salam. It followed a protest on Friday by Mursi's Islamist backers in the Muslim Brotherhood demanding the "purification" of the judiciary.

IMF 'will not leave table' on Egypt loan talks

The International Monetary Fund will remain engaged in loan negotiations with Egypt but wants the international community to provide financing, too, IMF chief Christine Lagarde said Saturday. "It's a task and we will not give up, we will not leave the table," Lagarde said at a news conference during the IMF and World Bank spring meetings in Washington. For several months, the IMF and Egypt have been in talks about a multibillion-dollar IMF loan that is contingent on strong support from domestic political actors and a commitment to key reforms.

IMF chief says determined to reach loan deal with Egypt

WASHINGTON (Reuters) - The head of the International Monetary Fund on Saturday declared the IMF "would not give up, would not leave the table" until it had struck a loan deal with Egypt. IMF Managing Director Christine Lagarde declined to say when a deal could be struck but said she had met with Egyptian officials on the sideline of weekend IMF meetings in Washington. There have been repeated delays in concluding a proposed $4.8 billion loan deal due to political turmoil since a 2011 uprising that ousted President Hosni Mubarak.

Egypt's Morsi says to reshuffle cabinet 'soon'

Egypt's President Mohamed Morsi said on Saturday he will "soon" announce a cabinet reshuffle, but it is unlikely to meet opposition demands for an overhaul of the government. Morsi, under strong pressure from the opposition to sack Prime Minister Hisham Qandil, told Al-Jazeera news channel: "There will be ministerial changes soon and they will affect several ministries." But the Islamist president denied he was acting under pressure. "The goal is to achieve general welfare on the ground, in light of the changes we see," he told the Qatar-based television station.

Egypt's Morsi to announce cabinet reshuffle

Egypt's Islamist President Mohamed Morsi is set to announce a cabinet reshuffle, a presidential aide said on Saturday, but it is unlikely to meet opposition demands for a complete overhaul of the government. Morsi wrote on his Twitter account that he would make "a ministerial change" and replace provincial governors, adding the posts would go to "those who are most qualified." A presidential palace official said Morsi's quote was taken from an interview that will be aired Saturday night on the Qatar-based Al-Jazeera television channel.

Egypt court postpones trial of 26 suspected Islamist militants

CAIRO (Reuters) - A Cairo court postponed the trial on Saturday of 26 alleged Islamist militants accused of planning attacks against the Egyptian state, after the defendants shouted at the judge overseeing the case. They specifically objected to court officials putting one of them in a separate cage, and called Judge Shaaban el-Shamy a corrupt figure from deposed leader Hosni Mubarak's regime.

Egypt's Mubarak stays in detention despite second release order

CAIRO (Reuters) - A Cairo court on Saturday ordered Egypt's former president Hosni Mubarak released pending a verdict on illicit gains charges, the second release order in a week, but he will remain in detention because he still faces other charges, court sources said. The appeal hearing on Saturday was held in Torah prison, to where 84-year-old Mubarak was transferred from an army hospital on Wednesday after an apparent improvement in his fragile health.

Egypt's Mursi says plans cabinet reshuffle

By Omar Fahmy CAIRO (Reuters) - Egyptian President Mohamed Mursi said on Saturday he planned to reshuffle his cabinet in a move that could help build political consensus around a $4.8 billion loan Cairo is seeking from the International Monetary Fund.
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