Egypt needs to fix economy, strike IMF deal—Kerry

Reuters ^ | Sat Mar 2, 2013 1:35pm EST | Arshad Mohammed

[Olog-hai]

Egypt’s need to get the economy back on its feet is paramount and urgent, and the government should strike a loan deal with the IMF, U.S. Secretary of State John Kerry said on Saturday.

Egypt’s foreign currency reserves have dived to little more than a third of levels before the 2011 revolution and its pound has lost more than eight percent against the dollar since the end of last year.

“It is paramount, essential, urgent that the Egyptian economy get stronger, that it gets back on its feet,” Kerry told Egyptian and U.S. business executives in Cairo. “It’s clear to us that the IMF arrangement needs to be reached, that we need to give the market that confidence.” …

[Olog-hai]

Right, tell the Islamists that wrecked Egypt’s economy how to repair it. Keep sending them bailouts and military machines. And then act surprised when they turn around and attack the Great Satan . . .

[Dallas59]

Kerry is an idiot. Complete and utterly.

[Seizethecarp]

Lurch will shamelessly tell the Muslim Bros. how to fix their economy!

“Earlier, a senior U.S. official said Kerry would stress the importance of Egypt achieving political consensus for painful economic reforms needed to secure the IMF loan.

“The United States believed Egypt needed to increase tax revenues and reduce energy subsidies - measures likely to be highly unpopular if Mursi’s Muslim Brotherhood government were to force them through.

“’His basic message is it’s very important to the new Egypt for there to be a firm economic foundation,’ the official told reporters as Kerry flew to Cairo.”

[BfloGuy]

Kerry is an idiot. Complete and utterly.

I know it! And, yet, he's talking the most sense of anyone in the administration.