Clinton and Obama have already given Egypt billions in additional aid. This is on top of that. The Egyptian economy is in tatters. Tourism, their top money earner, is way down. The country would have already imploded if the Saudis hadn’t given them a huge cash infusion. America is going to be propping up Egypt forever, as the Muslim Brotherhood continues to plot against us.
Voice of America – U.S. Secretary of State Hillary Clinton is in Tel Aviv after ending two days of talks with Egypt’s quarrelling civilian and military leaders. She offered them U.S. assistance for the struggling Egyptian economy without publicly taking sides in their ongoing power struggle.
A U.S. State Department official said Clinton discussed U.S. aid proposals at a meeting in Cairo Sunday with Egyptian military chief Field Marshal Mohamed Hussein Tantawi. The official said Tantawi told Clinton that reviving the Egyptian economy is a priority for his country. Clinton revealed details of the U.S. aid pledge on Saturday, when she held talks with Egypt’s Islamist President Mohamed Morsi, who took office last month.
VOA correspondent Scott Stearns, who is traveling with Clinton, said debt relief is a major part of the U.S. package.
“In both her talks with President Morsi and Field Marshal Tantawi, she discussed the U.S. ability to help the Egyptian economy. The political instability here in Egypt has really hurt economic growth and tourism revenue. So U.S. President Barack Obama is proposing a package of debt relief that could go as high as $1 billion. Tantawi said that’s really the chief priority now; that’s what Egyptians need – a better economy,” he said.
Other U.S. aid proposals include a $60 million fund for Egypt’s small- and medium-sized businesses and $250 million in private-sector loan guarantees. Stearns said Egypt will have to negotiate the terms of the broader debt relief package with the United States, but that process cannot begin until Mr. Morsi forms a Cabinet.