Egypt’s interim president Adli Mansour, after much consideration, named economist Hazem el-Beblawi as the country’s interim prime minister.
Mohamed ElBaradei, the original candidate for the position, was named deputy to the president, in charge of the government’s foreign affairs, according to Telegraph.
Saudi Arabia and the United Arab Emirates have demonstrated their support for the ousting of former President Mohamed Morsi by offering up $8 million of emergency loans and grants, reports the Vancouver Sun.
The financial assistance will help the interim government get Egypt back on its feet during an economic crisis. Fuel shortages and power outages were two of the many frustrations that fueled protesters’ anger toward Morsi. The countries also offered up gas and oil.
The conservative Islamist Nour party, which removed its support from the interim government in the wake of military shootings on Monday, has said it supports Mansour’s choice in el-Beblawi. The party originally contested the possibility of Nobel peace Laureate ElBaradei for the position of prime minister.
The government also set an accelerated timetable to hold elections despite widespread Islamist opposition by the Muslim Brotherhood and Morsi’s supporters.
The recent demonstrations have taken a hard toll on the country’s already struggling economy. Locals say “the city is dead,” according to Haaretz.
The Israeli newspaper points out a lack of traffic jams, empty banks and restaurants, and the absence of tourists in Cairo, a typically popular travel destination.