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Egypt needs economic partnership, not aid
Published in The Saudi Gazette on 19 - 07 - 2012


HASSAN TAHSIN
Things are now relatively settled in Egypt following the recent elections and the installation of Mohamed Morsi as president. This was followed by a quick and active US initiative aimed at asserting its presence in the country. US officials are now emphasizing the importance of helping Egypt and hinting at providing it with more economic incentives.
The United States announced that it has prepared a new plan to offer economic support to Egypt and has pledged a package of financial aid, including the settling of debts, the setting up of the Enterprise Fund to stimulate investment and provide Egyptian businesses with access to low-cost loans, in addition to exercising US influence on international financial organizations to provide Egypt with further economic assistance.
The US Congress has announced that it looks forward to continuing strong bilateral relations with Egypt that will serve the interests of both parties.
One might also ask if it is expecting to provide access to the International Monetary Fund so that Egypt can increase its debts and financial liabilities.
During her recent visit to Egypt, US Secretary of State Hillary Rodham Clinton met with the Egyptian president, minister of defense and several other political and civilian leaders in Cairo.
Here the question is: Why did she meet with these prominent Egyptian figures? Did she not remember that earlier there were strong protest marches rejecting her and the presence of the US in Egypt? Did she not see and hear what was happening then around the US embassy?
It is clear that Egypt is no longer in need of economic aid. Instead, it needs partnerships. The difference is great. This is because in investments and partnerships, there is activity in accordance with the laws of economics.
As for economic aid, it is a colonial tool that facilitates the intervention in the internal affairs of poor countries which await support from their masters!
This was emphasized by US State Department spokesman Patrick Ventrell speaking in a press conference a few days ago. Referring to the US position on the decision of Egypt's Supreme Constitutional Court to dissolve parliament, he said: “Washington's stance is neutral with regard to all parties concerned." This is a simple statement, yet it can be considered interference in the internal affairs of a country!
After the events of the January 25 Revolution, it was disclosed that billions of pounds were stolen from Egypt over the 30-year reign of Hosni Mubarak. Even so, the Egyptian economy is solid and has the capability to become more and more prosperous.
Since the Revolution, Egypt has witnessed numerous demonstrations but they have not disrupted normal work in the country. Sectors, like electricity, water, sewage and transport, all continue to function smoothly. Everyone continues to go to work. The Egyptian economy has not been stopped by the demonstrations.
However, one has to ask: Why are all of these grants and credit facilities being offered to Egypt now? There is nothing in this world which is free of charge. So, what is expected in return for these offers?
I hope that the new Egyptian government will refuse to accept any grants, credit facilities, loans or agreements that will dictate economic policy to the nation. If we all work together, we can build our own economy.
But we must realize that many civil society organizations are hotbeds of espionage. This was emphasized by Russia when its representative assembly (Duma) passed a controversial bill on July 14. The bill imposes new restrictions on non-governmental organizations (NGOs) that receive funding from abroad. It requires any NGO that receives foreign funding — from governments, groups or private citizens — and engages in political activity to register itself as a “foreign agent," provide detailed reports of its finances and identify itself as a foreign agent in any material it distributes.
The law puts such NGOs under close scrutiny and even imposes huge fines on them. Several civil society organizations within Russia and outside have voiced apprehension and criticized Moscow for enacting such legislation.
The bill was passed with the support of an overwhelming majority of 374 members while only three deputies opposed it and one abstained. The bill, presented by the ruling United Russia Party, was passed in an extraordinary session despite the opposition of the liberals from the opposition as well as human rights activists.
– Hassan Tahsin is an Egyptian writer and political analyst. He can be reached at [email protected]


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