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'ello!
I'm in for a simulation of the UN, in which I'll represent Egypt on the IMF. Each person has to hand in a position paper, in which should be explicit their countries' policies towards the comitee's topic, the World Financial Crisis.
Very well, I have made mine and handed in to my teacher. The thing is, I'm from Brazil and the discussion will be solely in English, so will the position paper. My teacher approved of my paper's content, stating, however, that I should show it to an English teacher in order to have potential grammar issues solved. Unable to contact any, I hereby come to you, pals, hoping you can review my text.
Do not stick to the content's quality in itself, but rather in linguistic matters, please.
It goes as :
Arab Republic of Egypt
Position Paper – International Monetary Fund
Dealing With Crisis in IMF
Occupying the northeast corner of the African continent, Egypt is bisected by the highly fertile Nile valley, where most economic activity takes place. The GDP by sector goes as: agriculture (13.4%), industry (37.6%), services (48.9%) (2008 est.), being the main industries textiles, food processing, tourism and chemicals.
Since the early 1990's the has been a Liberal reform in Egypt's economy. There has been a loosening of many price controls, a reduction of subsidies and inflation, cut taxes, and a partial liberalization of trade and investment. Manufacturing became less dominated by the public sector, especially in heavy industries.
Controversially, credit extended to the private sector in Egypt declined significantly in FY2005, due to the non-performing loans extended by the banks to business tycoons and top government officials. As a mean of standing up to the increasing unemployment, aggravated by the World Financial Crisis, lending criteria have been tightened following the passing of Money Laundry Law 80 in 2002 and Banking Law 88 in 2003. Interest rates are no longer the dominant factor in banks' lending decisions. In fact, both the inefficiency and absence of the role of the Central Bank of Egypt in qualitative and quantitative control as well as implementing banking procedures and standards was almost entirely resopnsible for the non-performing loans crisis. Having taken such measures, is is expected that private sector access to credit is improved, generating employment.
Egypt's export goods are mainly crude oil and petroleum products, cotton, textiles, metal products and chemicals, being the main export partners United States 9.7%, Italy 9.5%, Spain 7.6%, Syria 5.5%. The country's main import goods are machinery and equipment, foodstuffs, chemicals, wood products and fuels, being the main import partners United States 11.7%, China 9.7%, Italy 6.4%.
It is noteworthy that Egypt is the U.S.'s largest market for wheat and corn sales, accounting for about 46% of Egypt's needs from imported wheat. Taking into account not only the fact the U.S. was the crisis epicenter but also the soaring food prices, especially for grains, results of the 2008 World Food Crisis, Egypt's government was called to provide more immediate assistance to the population of more than 40% in the "poverty tunnel" and to strike a "new deal" on agriculture policy and reform, which consists mostly of plans to increase the areas planted with wheat. Additionally, while Egypt is a small oil exporter, it is a heavy exporter of gas. There has been a considerable loss of revenue from gas exports.
I'm in for a simulation of the UN, in which I'll represent Egypt on the IMF. Each person has to hand in a position paper, in which should be explicit their countries' policies towards the comitee's topic, the World Financial Crisis.
Very well, I have made mine and handed in to my teacher. The thing is, I'm from Brazil and the discussion will be solely in English, so will the position paper. My teacher approved of my paper's content, stating, however, that I should show it to an English teacher in order to have potential grammar issues solved. Unable to contact any, I hereby come to you, pals, hoping you can review my text.
Do not stick to the content's quality in itself, but rather in linguistic matters, please.
It goes as :
Arab Republic of Egypt
Position Paper – International Monetary Fund
Dealing With Crisis in IMF
Occupying the northeast corner of the African continent, Egypt is bisected by the highly fertile Nile valley, where most economic activity takes place. The GDP by sector goes as: agriculture (13.4%), industry (37.6%), services (48.9%) (2008 est.), being the main industries textiles, food processing, tourism and chemicals.
Since the early 1990's the has been a Liberal reform in Egypt's economy. There has been a loosening of many price controls, a reduction of subsidies and inflation, cut taxes, and a partial liberalization of trade and investment. Manufacturing became less dominated by the public sector, especially in heavy industries.
Controversially, credit extended to the private sector in Egypt declined significantly in FY2005, due to the non-performing loans extended by the banks to business tycoons and top government officials. As a mean of standing up to the increasing unemployment, aggravated by the World Financial Crisis, lending criteria have been tightened following the passing of Money Laundry Law 80 in 2002 and Banking Law 88 in 2003. Interest rates are no longer the dominant factor in banks' lending decisions. In fact, both the inefficiency and absence of the role of the Central Bank of Egypt in qualitative and quantitative control as well as implementing banking procedures and standards was almost entirely resopnsible for the non-performing loans crisis. Having taken such measures, is is expected that private sector access to credit is improved, generating employment.
Egypt's export goods are mainly crude oil and petroleum products, cotton, textiles, metal products and chemicals, being the main export partners United States 9.7%, Italy 9.5%, Spain 7.6%, Syria 5.5%. The country's main import goods are machinery and equipment, foodstuffs, chemicals, wood products and fuels, being the main import partners United States 11.7%, China 9.7%, Italy 6.4%.
It is noteworthy that Egypt is the U.S.'s largest market for wheat and corn sales, accounting for about 46% of Egypt's needs from imported wheat. Taking into account not only the fact the U.S. was the crisis epicenter but also the soaring food prices, especially for grains, results of the 2008 World Food Crisis, Egypt's government was called to provide more immediate assistance to the population of more than 40% in the "poverty tunnel" and to strike a "new deal" on agriculture policy and reform, which consists mostly of plans to increase the areas planted with wheat. Additionally, while Egypt is a small oil exporter, it is a heavy exporter of gas. There has been a considerable loss of revenue from gas exports.