Ever since the start of Egypt’s efforts toward a democratic transition began in 2011, repeated attempts by the International Monetary Fund (IMF) to help economically stabilize Egypt have been met with abortive efforts from the subsequent Egyptian governments. As Egypt continually kicks the economic can down the road, the country continues to suffer from a severe financing deficit, high inflation, and unprecedented unemployment, despite the massive assistance being provided by Gulf countries. Mohsin Khan questions the newest Prime Minister Hazem El-Beblawy’s motivations for stalling on an IMF agreement, suggesting that Gulf financing provides only part of the answer. Khan argues that populist tendencies in the halls of power in Egypt have risen to new highs as the political climate remains highly volatile, but poor economic policies could potentially threaten any incoming government in 2014. Read more in his article on EgyptSource titled, “An IMF Program for Egypt in 2014?“
Image: Photo: Egypt Cabinet