After days of deadlock, Egypt’s military-backed interim president named a veteran economist as prime minister yesterday and appointed pro-democracy leader Mohamed ElBaradei as a vice president, while the army showed its strong hand in shepherding the process, warning political factions against “maneuvering” that impedes the transition.
The appointment of Hazem el-Beblawi as prime minister came soon after the interim leadership issued a timetable that sets a fast track for amending the constitution and holding elections for a new parliament within seven months, followed by a presidential election.
The moves — and the statement yesterday by military chief Gen. Abdel-Fattah el-Sissi — showed the determination to entrench a new political system in the face of a campaign by Islamists to reverse the military’s July 3 ousting of President Mohammed Morsi.
Meanwhile, Saudi Arabia and the United Arab Emirates have pledged $8 billion in aid to Egypt. The $5 billion in Saudi aid includes $1 billion in cash, $2 billion for petroleum products and gas, and a $2 billion deposit, Al Arabiya reported, citing the Saudi finance minister.
The UAE package reportedly includes a $1 billion grant and a $2 billion interest-free deposit with the Egyptian central bank.