Crescent International
Hillary Clinton underlined the need to keep governments like Egypt on the payroll in order to advance US foreign policy objectives in the region.
Washington DC
September 29, 2012, 08:00 EST
Egypt’s Planning and International Cooperation Minister Ashraf al-Arabi confirmed that the US is to offer $450 million to Egypt in order to “help with the country’s economy,” as well as write off $650 million from Egypt’s state debts. This is part of the $1 billion pledged to Egypt by the Obama administration in the wake of the Arab Spring in order to keep the country on its leash and prevent it from organizing a government counter to US interests, as did Iran after the Islamic Revolution.
The United States provides Egypt with $1.55 billion annually - $250 million in economic aid and $1.3 billion in military aid.
Republican member of Congress, Representative Kay Granger of Texas, immediately announced that she would act to block the assistance because it came at a point when the American relationship with Egypt “has never been under more scrutiny.”
However, Hillary Clinton underlined the need to keep governments like Egypt on the payroll in order to advance US foreign policy objectives in the region. “The recent riots and protests throughout the region have brought the challenge of transition into sharp relief,” declared Clinton while attending the UN General Assembly in New York. “Extremists are clearly determined to hijack these wars and revolutions to further their agendas and ideology, so our partnership must empower those who would see their nations emerge as true democracies.”
Egypt is also due for a $10 billion loan from the IMF, in return for further privatization programs which will exacerbate the economic miseries faced by the people throughout Mubarak’s reign. Ashraf al-Arabi denied these rumors in sophistical ways that only highlighted their probability. He also denied any plans to increase prices, noting that only energy prices for factories will be increased by 28 percent but they will be asked not to raise the price of their products.
END
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