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Before the November 2016 #IMF agreement, I was warning that the …

Posted on September 24, 2019 by Shahid Bolsen

Before the November 2016 #IMF agreement, I was warning that the harsh economic measures it required would necessitate severe political repression. Even #Mursi hesitated to implement the IMF program because he feared violent discontent among the population in the wake of such severe policies. In fact, that is one of the reasons Mursi was shunned and #Sisi embraced by international elites. A ruthless, authoritarian regime could be better relied upon to impose the economic subjugation of Egypt, and to suppress inevitable protest.

There is not a single economic policy Sisi has implemented that was not dictated to him by the IMF, these obligations are part and parcel of the $12 billion loan agreement, which extends until 2036.

Those obligations still exist, and will continue to be implemented, regardless of whether the ruler is Sisi or anyone else. Economic sovereignty is the prerequisite for genuine democracy.

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