Wednesday, June 8, 2011

Egypt Under IMF Control

Time for another revolution then.

"IMF to give Egypt $3 billion loan" by Associated Press,  June 6, 2011

CAIRO — The International Monetary Fund agreed yesterday to provide Egypt with $3 billion in financing to help the Arab world’s most populous nation ease the blow to its economy sustained during the popular uprising that ousted President Hosni Mubarak.

The loan announcement comes days after the government unveiled a draft budget that projects a deficit of nearly 11 percent of the nation’s gross domestic product. Officials want to boost social services spending to meet the demands of a population that complained of gross economic inequity under Mubarak.... 

And they think turning to the debt-enslaving  IMF is going to help?

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