DUBAI, 13 Feb: Egyptian President Abdel Fattah el-Sissi offered effusive praise Monday for the United Arab Emirates, seeking to repair a rift between Cairo and the Gulf Arab states that have supplied billions of dollars in aid to his nation.
\nEl-Sissi has relied on handouts from Gulf Arab states to keep his country\u2019s economy afloat since seizing power in 2013. Estimates suggest over $100 billion in Gulf money has gone to Cairo via Central Bank deposits, fuel aid and other support since then.
\nBut in recent weeks, Gulf Arab nations, including Saudi Arabia, have begun signaling that they want to see more reforms from countries receiving their aid \u2014 particularly as nations worldwide struggle with inflation and the fallout from Russia\u2019s war on Ukraine. That likely would affect Egypt, which already is under pressure from the International Monetary Fund to reform.
\n\u201cWe used to give direct grants and deposits without strings attached and we are changing that,\u201d Saudi Finance Minister Mohammed al-Jadaan said at the World Economic Forum in Davos in January. \u201cWe need to see reforms. We are taxing our people. We are expecting also others to do the same, to do their efforts. We want to help but we want you also to do your part.\u201d
\nIn Kuwait, at least one lawmaker has begun asking about the billions loaned to Egypt and whether any of those funds had been repaid. While leaders in the United Arab Emirates haven\u2019t commented publicly on its aid packages, it too has its own development plans and is being asked to deliver aid to earthquake-stricken Turkey and Syria.
\nEarlier this month, an opinion piece in the Egyptian state-owned newspaper Al-Gomhorya argued that Saudi Arabia and other Gulf states had no right to criticize the Egyptian government\u2019s handling of its economy.
\n\u201cThose barefoot and naked, who wore the most luxurious clothes recently, should not attack Egypt,\u201d wrote editor Abdel Razek Tawfiq. \u201cStates whose age does not exceed the age of my youngest son do not have the right to talk about Egypt except with politeness, reverence and respect.\u201d
\nThe article later disappeared from the newspaper\u2019s website, but a firestorm broke out online over the column. During a televised speech last week, el-Sissi talked down the spat.
\n\u2019\u2019If we can\u2019t say something good we should remain silent,\u201d el-Sissi said.
\nEl-Sissi spoke Monday before the World Government Summit in Dubai at a session attended by both UAE leader Sheikh Mohammed bin Zayed Al Nahyan and Dubai\u2019s ruler, Sheikh Mohammed bin Rashid Al Maktoum. The Egyptian president began his remarks acknowledging the two rulers as his \u201cbrothers.\u201d
\nEl-Sissi, onstage at the summit for what was billed as an interview with a journalist, launched into a monologue praising the UAE and Sheikh Mohammed bin Zayed for his aid after the 2013 overthrow.
\n\u201cThe first to highlight is the support I have received from our brothers,\u201d el-Sissi said. \u201cEverything I said would not have been possible without the support we received.\u201d
\nHe didn\u2019t directly address the controversy around the newspaper column, though toward the end of his remarks he referred elliptically to the dispute.
\n\u201cReality may be different from what we see in the media or what we hear from politicians \u2026 even when it\u2019s politicians who think they are in control,\u201d el-Sissi said. \u201cMake sure to thank God for the generosity we have received.\u201d
\nAnwar Gargash, a senior Emirati diplomat, tweeted after el-Sissi\u2019s appearance: \u201cEgypt, as usual, is loyal to its brothers and their stances. Appreciation for the UAE, Saudi Arabia and Kuwait was present in President Sissi\u2019s speech.\u201d
\nThe Egyptian government has plans to sell stakes in dozens of state-controlled companies, including banks and energy firms. However, the government and the Egyptian military dominate the economy of the Arab world\u2019s most-populous country, worrying investors.
\nEgypt meanwhile is allowing its Egyptian pound to devalue, with the currency down nearly 50% over the last year. The country also faces a foreign currency shortage exacerbating its woes and forcing it to postpone major projects.
\nEl-Sissi, an army general, led the 2013 ouster of then-President Mohammed Morsi of the Muslim Brotherhood. His government has cracked down on dissidents and critics, jailing tens of thousands, virtually banning protests and monitoring social media. (AP)<\/p>\n","protected":false},"excerpt":{"rendered":"
DUBAI, 13 Feb: Egyptian President Abdel Fattah el-Sissi offered effusive praise Monday for the United Arab Emirates, seeking to repair a rift between Cairo and the Gulf Arab states that have supplied billions of dollars in aid to his nation. El-Sissi has relied on handouts from Gulf Arab states to keep his country\u2019s economy afloat […]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[15],"tags":[],"class_list":{"0":"post-210901","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-world"},"_links":{"self":[{"href":"https:\/\/arunachaltimes.in\/index.php\/wp-json\/wp\/v2\/posts\/210901","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/arunachaltimes.in\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/arunachaltimes.in\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/arunachaltimes.in\/index.php\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/arunachaltimes.in\/index.php\/wp-json\/wp\/v2\/comments?post=210901"}],"version-history":[{"count":0,"href":"https:\/\/arunachaltimes.in\/index.php\/wp-json\/wp\/v2\/posts\/210901\/revisions"}],"wp:attachment":[{"href":"https:\/\/arunachaltimes.in\/index.php\/wp-json\/wp\/v2\/media?parent=210901"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/arunachaltimes.in\/index.php\/wp-json\/wp\/v2\/categories?post=210901"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/arunachaltimes.in\/index.php\/wp-json\/wp\/v2\/tags?post=210901"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}