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The UAE and Saudi War on the Muslim Brotherhood Could Be Trouble for the U.S. - 0 views

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    The UAE Cabinet approved a list of 83 designated terrorist organizations on Saturday, including al Qaeda and the Islamic State. Much more significant, though, was the inclusion of many Muslim organizations based in the West that are believed to be allied with the Muslim Brotherhood movement. Prominent among them are two American Muslim groups: the Council on American Islamic Relations and the Muslim American Society.
Arabica Robusta

IMF loan could be back on the table for Egypt | The National - 0 views

  • In the political upheaval that followed the revolt of 2011 and the army takeover two years later, as investors fled and currency reserves plunged, Egypt turned to the GCC. First Qatar and later Saudi Arabia and the UAE obliged, with more than $40bn in grants, loans and investment to prop up sympathetic governments. Meanwhile, repeated talks with the IMF broke off short of a loan accord.
  • Mr El Sisi is already enacting some policies the IMF typically requires as conditions for loans. Egypt slashed fuel subsidies last year and aims to cut its budget deficit by at least 1.5 percentage points to 10.5 per cent of economic output this year.The fund would be likely to require faster action on that and other issues, and that would be a good thing, according to Lutz Roehmeyer, the director of fund management at Landesbank Berlin Investment.“Investors so far have the impression that politics and reforms are moving too slowly in Egypt,” he said. “An IMF programme would increase certainty that there will be a reform agenda.”
  • Many economists, though, believe that the squeeze on Egypt’s finances will force the government to overcome any such scruples.“Sooner or later, we will have to resort to the IMF,” said Omar El Shenety, the managing director at the Cairo-based investment bank Multiples Group. “For credibility first, before its money.”
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    "In the political upheaval that followed the revolt of 2011 and the army takeover two years later, as investors fled and currency reserves plunged, Egypt turned to the GCC. First Qatar and later Saudi Arabia and the UAE obliged, with more than $40bn in grants, loans and investment to prop up sympathetic governments. Meanwhile, repeated talks with the IMF broke off short of a loan accord."
Arabica Robusta

The Emirates Crackdown » Counterpunch: Tells the Facts, Names the Names - 0 views

  • Most recently, the Saudi authorities arrested the Qatif-based cleric Nimr al-Nimr, shooting him in the leg and killing several people during the operation in the village of al-Awwamiyya.
  • In the Kingdom, to champion democracy is a mental illness.
  • Things are so bad in Bahrain that the UN Human Rights Council passed a declaration calling on King Hamad bin Isa Al Khalifa to implement the recommendations of his own appointed Bahrain Independent Commission of Inquiry. Unsurprisingly, the United States, the United Kingdom and seven European Union states (including Sweden) sat silently and did not endorse the declaration.
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  • On August 1, Human Rights Watch’s Joe Stork called upon the US and Britain to “speak out clearly, in public as well as in meetings with UAE officials, about this draconian response to the mildest calls for modest democratic reforms.” There is silence from US Secretary of State Hillary Clinton, who said, in February 2011, that the US would “support citizens working to make their governments more open, transparent and accountable.” The asterix to that statement said the following: “citizens of the Gulf need not apply.”
  • John Harris, the architect of Dubai, wrote in a 1971 master plan that the UAE’s political system was a “traditional Arab desert democracy [which] grants the leader ultimate authority” (this is quoted in Ahmed Kanna’s fabulous 2011 book Dubai: The City as Corporation). The term “desert democracy” had become clichéd by the 1970s.
  • It is almost as if the Gulf Arab monarchs had read their Bernard Lewis, the venerable Princeton professor, whose What Went Wrong? The Clash Between Modernity and Islam in the Middle East (2001) notes that the “Middle Easterners created a democracy without freedom.” All the usual Orientalist props come tumbling in: tribal society, Arab factionalism and so on.
  • No elite willingly submits to democracy, the “most shameless thing in the world,” as Edmund Burke put it.
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