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06 August 2017

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DH

I understand that Hillary's aide, Huma Abedin has very close family ties with MB. That's bold on Hillary's part.

Thirdeye

Money talks.

Willybilly

Good questions. You have to ask them at Langley & MI6

Robert C

If Gohmert and Bachman say so, it must be true.

different clue

Robert C,

If Gohmert and Bachman say that rain is made of water, must that be true too?

Red Cloud

I think Saudi Arabia is positioning themselves to push the Qataris out wherever they can. I would expect to see the MB lose influence in the long term, while AQ affiliated groups gain influence and perhaps footholds where they previously had none.

Adrestia

In my opinion it starts to look like pre-2011 are being recreated. Soaring food prices caused social unrest then because many people were struggling to get food. In 2011 it was because of austerity measures which hit the poorest people the most. The same is happening again. Inflation hurts the poor much harder. Imho economic despair (and especially food and water insecurity) causes more radicalization than religion or other 'higher' ideas such as democracy.

Query for IMF+Egypt and a lot of similar austerity measures are shown. People will go to the streets just as they did in 2011 (or in 1977 https://en.wikipedia.org/wiki/1977_Egyptian_bread_riots)

Non-oil sector continues to weaken

Egypt's foreign currency reserves have at last surpassed levels seen before its 2011 uprising, but importers and analysts say growing dollar liquidity also reflects an uncomfortable reality: consumers battered by austerity are unable to buy.
(...)
Dollar liquidity has been on the upswing since Egypt signed a $12 billion three-year International Monetary Fund loan agreement in November.

The loan deal is tied to economic reforms such as floating its pound currency, a move that halved its value and made exports competitive but which has pushed inflation to over 30 per cent.

Those higher prices and IMF-backed subsidy cuts and tax hikes have hit consumer spending. Egyptian companies, many of which rely heavily on imports that have become more expensive, have found they cannot pass those additional costs on to customers whose purchasing power has been dramatically reduced.

https://www.khaleejtimes.com/business/economy/egypts-rising-dollar-resources-is-bad-news-for-its-consumers


The International Monetary Fund said on Friday it had approved a second loan installment worth $1.25 billion for Egypt.

Egypt agreed to a three-year, $12 billion IMF loan programme in November that is tied to ambitious economic reforms such as subsidy cuts and tax hikes.

"The government and the central bank have taken the right measures to rein in inflation, reduce the budget deficit, and set the Egyptian economy on a path to stability and growth," Christine Lagarde, managing director of the IMF said in a statement.

Last week, the government increased electricity prices by up to 42 percent this fiscal year for households. A week earlier, it raised fuel prices by up to 50 percent to help meet the terms of its IMF loan agreement.


http://www.reuters.com/article/egypt-economy-imf-idUSL8N1K46KZ

Egypt raises water and sewerage bills as part of IMF reforms
{...}
The Egyptian government has increased the prices of drinking water and sewerage fees up to 50 percent as part of an extensive economic reforms programme aimed at closing the budget deficit.

http://www.middleeasteye.net/news/egypt-raises-water-sewage-bills-part-reform-program-1941776063

Adrestia

I finished reading the Reuters article and they seem to be aware of the risks of the food security of the poor. They target the middle class with the austerity measures, who historically provide the leadership of resistance.

http://www.reuters.com/article/egypt-economy-imf-idUSL8N1K46KZ

Sisi last month announced a raft of new spending, including more than doubling monthly food subsidies effective starting July 1, a freeze to taxes on agricultural lands, and an increase of 15 percent in civil servant pensions.

The lion's share of the social spending allocation will be channeled into monthly food subsidies, which will increase to 50 pounds per person from 21 currently, a hike that will cost the state an additional 38 billion Egyptian pounds ($2.12 billion) in the current fiscal year's budget, which began in July.

Castellio

Just a brief thank you for both posts. I appreciate the information and the links.

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