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Thursday, 11 August 2016

The Economist articles, IMF loan, public policy and development

Leftist Al Shorouk columnist Abdullah El Sennawy discusses the impact of The Economist article on the IMF loan. He argues that since obtaining the loan in itself is a vote of confidence in Egypt’s ability to earn foreign investment, the magazine’s wide circulation could hurt investment opportunities in Egypt at a time when it needs them the most. The coverage could also push the IMF to impose harsher conditions that don’t take into account their possible social implications. Meanwhile, Al Shorouk Editor-in-Chief Emad ElDin Hussein says people should “doubt themselves repeatedly” before accusing The Economist of purposefully defaming Egypt in the same vein as partisan publications from Qatar and Turkey.

Government-aligned Al Ahram columnist Makram Mohamed Ahmed writes on Egypt’s previous attempts to obtain an IMF loan, criticizing the IMF’s “regurgitated” reform program and the insistence that the program’s reform agenda is homegrown.

An economics columnist for Al Masry Al Youm who writes under the pseudonym Newton pens a piece detailing the importance of Egypt declaring its economic identity. Egypt has an ambitious 2030 plan, but “When does it begin?” he asks. Ultimately, investors want security, he says, and they need to be able to enter and exit the country safely.

Political science professor at Cairo University Moataz Abdel Fattah asks if President Abdel Fattah El Sisi cares more about developing buildings than developing humans in a piece for El Watan. He discusses the disparity between El Sisi’s public policy statements, likening them to a father who — metaphorically — builds factories, companies and restaurants for his kids, but doesn’t pay much attention to their education.

Writing for state mouthpiece Al Ahram, journalist Farouk Goweda highlights a lack of censorship by the General Directorate for the Censorship of Artistic Works during the month of Ramadan. He blames the “art” business for the “disaster” that is ruining Egypt’s youth with [redacted], violence and [illicit substances].

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