Muslim Brotherhood wary of Egypt IMF loan

Al Akhbar | March 20, 2012

Egypt’s Muslim Brotherhood, the country’s largest political force, on Tuesday held off from backing a request for a loan from the International Monetary Fund, urging more government transparency.

The Brotherhood’s Freedom and Justice Party said it met with an IMF delegation in Cairo to discuss the loan which has raised fears of strangling Egypt’s economy to mostly Western lenders.

“The loan will be a burden on the shoulders of Egyptian people, who have the right to know how it will be spent and how it will be paid off,” its head Mohammed Mursi said in a statement.

The Muslim Brotherhood said it did not object to the IMF or assistance from abroad, but cautioned that it needed to meet Egyptian interests.

The party “would certainly accept any help from these institutions in any way that would serve public interests,” Mursi said.

The Islamist party, the largest in parliament, said the government “has not yet submitted a plan of economic measures relating to the loan” and did not say “how this loan will be used, or how it will be paid off.”

The IMF is seeking assurances from the Muslim Brotherhood that it would back the loan, diplomatic sources told AFP.

Egypt had spurned an IMF loan last year but reversed its decision amid a stalling economy.

The IMF loan has come under fierce criticism in Egypt, with many fearful that it will allow Western powers to gain control of the country’s weakened economy.

Egypt’s foreign currency reserves have fallen while the budget deficit increased due to public spending.

In addition to the IMF loan, Egypt has sought US$1 billion from the World Bank and US$500 million from the African Development Bank.

(Al-Akhbar, AFP)

March 20, 2012 - Posted by aletho | Economics | African Development Bank, al-Akhbar, Egypt, Freedom and Justice Party, International Monetary Fund, Muslim Brotherhood, World Bank

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The lies about the 1967 war are still more powerful than the truth

By Alan Hart | June 4, 2012

In retrospect it can be seen that the 1967 war, the Six Days War, was the turning point in the relationship between the Zionist state of Israel and the Jews of the world (the majority of Jews who prefer to live not in Israel but as citizens of many other nations). Until the 1967 war, and with the exception of a minority of who were politically active, most non-Israeli Jews did not have – how can I put it? – a great empathy with Zionism’s child. Israel was there and, in the sub-consciousness, a refuge of last resort; but the Jewish nationalism it represented had not generated the overtly enthusiastic support of the Jews of the world. The Jews of Israel were in their chosen place and the Jews of the world were in their chosen places. There was not, so to speak, a great feeling of togetherness. At a point David Ben-Gurion, Israel’s founding father and first prime minister, was so disillusioned by the indifference of world Jewry that he went public with his criticism – not enough Jews were coming to live in Israel.

So how and why did the 1967 war transform the relationship between the Jews of the world and Israel? … continue

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