Egypt to get Approved $12 Billion Dollar Loan from IMF: America and Russia should Shore Up
Boutros Hussein, Chika Mori, and Lee Jay Walker
Modern Tokyo Times
The Muslim Brotherhood intrigues against Egypt under President Obama and America’s negative approach to the Russian Federation needs to be challenged by the newly elected-President of America, Donald Trump. In other words, America and the Russian Federation should work closely with the government of Egypt in order to strengthen a pivotal nation. If this happens, then the negative consequences of the so-called Arab Spring can start to be truly pushed back.
President Abdel-Fattah el-Sisi of Egypt took the reigns of power at the most crucial juncture in modern Egyptian history. El-Sisi fully knows that Egypt needs stability and to quell the sectarian and Islamist power play of the Muslim Brotherhood – and the intrigues of foreign powers including Turkey. Similarly, the weakness of the central state and dire reality of the broken economy needs to be patched up, solidified, and then to reawaken a nation with enormous potential.
It is easy for Western media outlets to point a negative finger at the government of el-Sisi. Yet look how France reacted to a handful of Sunni Takfiris who were bent on killing and terrorizing the populace earlier this year. However, for Egypt this reality – and the Muslim Brotherhood political Islamist movement, is a million times more dangerous.
Hopefully, America and the Russian Federation can start a fresh chapter with the electoral victory of Trump. If so, then Egypt should be a pivotal nation state to turn the clock back because the Middle East needs “the lungs of Egypt to be vibrant.” After all, population wise, and with the possibility of creating a much-needed breathing space for the ten million plus Coptic Christian community, then Egypt can be “a way forward.” This would be a far cry from Obama’s America, Qatar, and Turkey’s intrigues based on a “Muslim Brotherhood backward step.”
El-Sisi promised to stabilize government institutions and then re-galvanize the economy – while keeping the Islamist Muslim Brotherhood and several Takfiri groups in the Sinai region at bay. Therefore, in order for el-Sisi’s objective of stabilizing democracy and laying the foundation of a new Egypt whereby institutions are respected, then the economic realm is pivotal for this stage.
The New York Times reports, “To meet the I.M.F.’s requirements, the government was forced to agree to painful policy changes that it had long avoided. It created a value-added tax. It raised the price of gas, to about 21 cents from 16 cents for a liter of gasoline – still extremely cheap, but expensive for low-paid Egyptians. The government floated the currency earlier this month, and it lost nearly 50 percent of its value, wiping out savings and halving salaries. From a fixed exchange rate that had the Egyptian pound officially trading at 8.8 to the dollar, the pound has now devalued to 16.7 against the dollar.”
It is clear that times are difficult for Egypt but opportunities abound if America, the Russian Federation, and other powerful nations, can all play a vital part in supporting Egypt irrespective of the varying angles that are open. If Egypt is lost to chaos and rampant poverty, then the winners will be the Muslim Brotherhood, ISIS (Islamic State), people smugglers, sectarian violence, and unleashing countless negative repercussions throughout the Middle East, North Africa, and the Mediterranean. Therefore, it is essential for the international community to support the government of Egypt in order for el-Sisi to implement reforms based on strength.
Modern Tokyo News is part of the Modern Tokyo Times group
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