The Popular Campaign to Drop Egypt’s Debt issued a statement Thursday opposing the IMF loan and questioning the lack of information about “the extent to which the Egyptian economy needs this massive amount of dollars.”
The group protested that there had been no discussion of alternative ways of financing public spending, adding that the government had obtained foreign loans amounting to $6 billion over the past year without any democratic oversight. Governments appointed by the military since the revolution had also borrowed record amounts from Egyptian banks, it said, and “it is not known how they were spent.”
nohaelshoky on 12 Apr 12Tunisia urgently needs to marshal all of its financial resources to meet immediate needs, including extreme poverty, benefits for the unemployed, improving workers' material conditions, etc. Meanwhile, we're getting reports of foreign initiatives to develop an emergency "aid" package for Tunisia, including 17 million euros from the European Commission and 350,000 euros from the French state.
