IMF, US aim at Debt Peonage, Financial Invasion in Egypt

A report from this morning states,

U.S. and International Monetary Fund officials are in Cairo this week for talks on how to avert an economic crisis in a country where revolutionary fervor has left government finances reeling and cast a broad cloud of suspicion over the nation’s business class.

The protests that have upended the Arab world’s politics have had a broad economic spillover as well, from high world oil prices to an abrupt increase in spending by countries such as Saudi Arabia on public subsidies in hopes of tamping down public dissatisfaction. It has also touched off a broad debate about whether nations such as Egypt can find strategies to create jobs and better distribute the gains of economic growth even as it faces pressing financial problems and a political backlash against reforms encouraged by the developed world and institutions such as the IMF.

Another article states that the US is looking for a means of control as well....

Egypt’s Minister of Finance Samir Radwan discussed with US Assistant Secretary of the Treasury Charles Collyns means to promote bilateral cooperation in the economic, financial and developmental domains.

The two sides also tackled possible contributions which can be offered by the US to Egypt at this crucial transitional period.

Radwan said the Egyptian economy has strong foundations, but it is now facing some temporary challenges, which he added, requires the assistance of all friendly countries including the US, a key economic partner to Egypt.

The Egyptian official added he discussed with Collyns vistas of cooperation such as giving sovereign guarantees by the US to its investors who want to do business in Egypt, a move that contributes to boosting economic growth rates and attracting foreign investments.

In reality, this is exactly what we expected to happen as most in the world do not understand the economic complications as cause of political repression in the international order. These uprisings could be exploited to create new stimulus for traditional colonialist powers or in the event Islamist parties were able to advocate for economic policy and a paradigm shift toward a riba-free order, the beginning of the end for financial imperialism.... the real expectations are that a regime still very much active in all these countries will alter reform so that it is cosmetic and not real, there are many possible alternatives but we should start to utilize this time to educate about IMF peonage and the international monetary order and then to educate about other alternatives that are derived from Islam's riba and gharar. Unfortunately, we have just completed a series of documents on this phenomenom and predicted it but they are the property of some conferences and journals for the next few months at which time we will release them, biidhniAllah... Until then, please think through these complications. We will be discussing them in upsoming State of the Ummah series and in the Shariah Compliant Finance Course. These next few months will prove enlightening for those seeking to understand the nature of the beast we are war with, an insiduous financial slimemold that most experience the after-effects of but cannot pinpoint the cause. Politicla repression and dictatorial regimes like Mubarek are a side effect and not the cause. Unfortunately, until we understand the cause and the cure for it, we are almost certain to suffer everywhere. As Rosa Luxemburg says in Accumulation of Capital, "usurious loans are the means by which empires retain control" and "militarism is the executor of the accumaulation of capital". Still, there are many reasons to remian optimistic. Here is to a real islamic awakening, inshaAllah