Skip to comments.Short of Money, Egypt Sees Crisis on Fuel and Food
Posted on 04/01/2013 7:29:52 PM PDT by Lorianne
QALYUBEYA, Egypt A fuel shortage has helped send food prices soaring. Electricity is blacking out even before the summer. And gas-line gunfights have killed at least five people and wounded dozens over the past two weeks.
The root of the crisis, economists say, is that Egypt is running out of the hard currency it needs for fuel imports. The shortage is raising questions about Egypts ability to keep importing wheat that is essential to subsidized bread supplies, stirring fears of an economic catastrophe at a time when the government is already struggling to quell violent protests by its political rivals.
Farmers already lack fuel for the pumps that irrigate their fields, and they say they fear they will not have enough for the tractors to reap their wheat next month before it rots in the fields.
United States officials warn of disaster unless Egypt soon carries out a package of tax increases and subsidy cuts tied to a $4.8 billion loan from the International Monetary Fund. That would persuade other lenders that Egypt was creditworthy enough to obtain billions more in additional loans needed to meet its yawning deficit. But fearful of a public reaction at a time when the streets are already near boiling, the government of President Mohamed Morsi has so far resisted an I.M.F. deal, insisting that Egypt can wait.
Those who say Egypt cannot afford enough fuel are trying to make problems for Dr. Morsi and his party, said Naser el-Farash, the spokesman for the Ministry of Supply and Internal Trade and a fellow member of the Muslim Brotherhoods political arm.
(Excerpt) Read more at nytimes.com ...
Another Arab Spring has come. Pizzas from the union dudes in Madison, Wisconsin are soon to follow. They’ll do okay. One good riot from the young skulls full of mush and they’ll forget all about fuel and food.
The people voted in an islamic tyranny.
They got what they wanted.
Pretty soon, people will talk about Mubarak as the “good old days”
Mr. Obama, the answer is “NO!”
And Israel just opened a gas pipeline.
Who needs the IMF when Barraqui will give his mudslime friends millions?
“....Mr. Farash placed blame for the shortage of fuel on corruption left over from the government of Hosni Mubarak,...”
They must be following Obama’s “it’s Bush’s fault” strategy. Perhaps that was one of Hillary’s final bits of advice to her Muslim Brotherhood compadres before she left her Secretary of State office.
Didn’t the U.S.A. just GIVE these idgits a BUNCH of money???
The Muslim Brotherhood has desire to provide for the people of these countries, they want Jihad with the West
I thought we just gave those worthless bastards eleventy billion dollars
An example of the Egyptians having problems similar to those of the Nigerians you had brought up in another thread.
The Perfect Storm is brewing.
You DO have a point there. Almost like it was planned a long time ago.
They need more money. Quick! Give them more money.
I guess the infidels aren’t coughing up enough tribute.
It's okay though....we'll borrow billions more from China to send them so that they aren't interrupted in their efforts to try to kill us.
Many of them, especially Egypt, depended upon tourism to keep their economy viable. Western tourism is defunct in any MB-controlled country.
The next decade will see what happens to people who are just not productive enough to earn enough to feed themselves, after the West stops being able to give aid to them. We will either see mass starvation, or a human-wave invasion of the West, as depicted in Camp of the Saints. Perhaps both, with the former fueling the latter.
Now it's neither fashionable or safe to tour the country to view its ancient relics. The Muzzies will eventually tear them down or let them go to seed, anyhow....like they did with the giant Buddha relics in another country.