As Instability Grows, IMF Loan Could Threaten Egypt’s Most Vulnerable

Posted on 29 June 2013 by

By Olivia Alabaster, on behalf of WLP Lebanon/CRTD.A

Saturday, June 29

CAIRO: The implications of an IMF loan package to Egypt were discussed in further detail on the second day of a regional conference on economic justice and women’s rights Saturday organised by CRTD.A/WLP-Lebanon.

Egyptian workers march to Shura Council on May Day 2013 (cc) Gigi Ibrahim

Egyptian workers march to Shura Council on May Day 2013 (cc) Gigi Ibrahim

In the first session Mohammed Guad, from Al-Shourouk newspaper, spoke of how the conditions which the IMF loan deal stipulates would most negatively affect the poor and marginalized sectors of society, including women.

He also described Egypt’s regional importance, stating that were the pound to collapse here, it would undoubtedly have knock-on effects across the Middle East, and suggested that faith in a country’s economy was closely linked to the political system.

“Trust in a country’s economy happens when democracy prevails,” he said.

Talking of the new state budget for Egypt, Guad slammed the sales tax as a “regressive tax with a very violent social impact.” He added that it would have bad consequences for women, who normally have to manage the household expenses and said in general the state budget gave the impression that the Muslim Brotherhood are “against social justice and democracy.”

He also stressed the need for civil society to increase efforts to speak out against the IMF loan and said that, “As seen by the previous parliament, members of parliament are not necessarily best representatives of the people, so civil society needs to step up. ”We should not remain subject to things imposed on us by others,” he added.

In groups, participants then discussed alternative approaches to achieving economic justice and equality for women.

Proposals focused on the need to expand access to information and knowledge for women across the board, and the need for political and economic empowerment to go hand in hand. It was also suggested that NGOs better network with each other, to share information and collaborate on advocacy efforts.

Another suggestion was better lobbying of politicians, as well as the need to submit regular reports to relevant actors in government.

A grassroots approach was stressed, including the need for education on women’s rights and duties, to better enable a politically aware society and an understanding of the long-term effects of an IMF loan, which in turn could help boost opposition to it.

In conclusion, Lina Abou-Habib, director of CRTD-A, said that while the conference had focused on Egypt, the lessons learned were relevant to countries across the region. Speakers had agreed, she said, on the dangers of the secrecy surrounding the ongoing negotiations. “Can we talk about democracy when the fate of people’s lives is not being openly discussed?” she asked. Abou-Habib also introduced the launch of the WLP global campaign entitled “Stand with Women Who Stand for Democracy” and the timeliness of the Campaign for both Egypt and other Arab countries in the throes of post revolts transformations. The New Women Foundation and the Equality without Reservation Coalition, both co-organisers of the events, will be launching the Campaign on their social media.

From : http://www.blog.learningpartnership.org/2013/06/egypt-imf/

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