As
G24
Questions
IMF's Arab
Spring
Response,
Mubarak Era
Rep Praises
By
Matthew
Russell Lee
IMF,
April
19 -- When the
Group of 24
developing
countries
issued a
communique on
Thursday, it
said, "We
reiterate the
importance of
the IMF and
the World Bank
to adequately
respond to the
developmental
needs of the
Middle East
and North
Africa (MENA)
countries in
transition."
Inner
City Press
asked the
panel the
obvious
question: does
the G24 think
that the IMF
has
done enough in
the so-called
Arab Spring
countries,
particularly
after IMF
Managing
Director
Christine
Lagarde loudly
announced a
commitment of
$35 billion?
India's
Finance
Minister
Pranab
Mukherjee, as
G24 chair,
gave a lengthy
answer that
in essence
called for the
IMF to do
more, without
any cookie
cutter
approach.
But
then former
Mubarak
government
spokesman
Ayman
Alkaffas, who
is reportedly
married
to the
daughter of
Omar Suleiman,
Mubarak's
spy chief
whose
candidacy for
presideny has
at least for
now been
disqualified,
asked
for the
microphone,
saying he
represents
Egypt on the
World Bank's
board.
He spoke of
appreciating
the IMF's
role,
especially the
positive
comments made earlier in
the day by
Christine
Lagarde.
Yes,
there were
some positive
comments. Then
Lagarde was
asked why the
"IMF has
taken a big
step to help
Europe but did
not take these
steps to the
Arab Spring
countries."
Lagarde
replied that
"If we hear
solid partners
on the ground
say, aah, I am
not too sure
about this
program, not
too sure about
the IMF, not
too sure about
borrowing, it
is a bit of an
issue."
Among
the
questions
raised to the
IMF, however,
is whether a
military
government in
what should be
its declining
days should be
able to
bind future
Egyptians to
the tune of
$3.2 billion.
It's a
legitimate
question.
But
Ayman
Alkaffas, who
was the
Mubarak
government's
spokesman in
London,
didn't voice
this concern,
and said the
deal should be
sealed and
announced "in
a few weeks."
We'll see.
From
IMF
transcript of
Lagarde's
second
response on
Egypt:
Question
-
I want to ask
you another
question about
Egypt. The IMF
has taken a
big step to
help Europe
but did not
take these
steps to the
Arab
Spring
countries.
They told that
they have a
problem with
the IMF,
these
countries.
Especially in
Egypt, what is
the problem?
Is it in
the IMF or in
the
government? We
want details
about the
agreement
with the
government in
Egypt.
Ms.
Lagarde -
Well, I might
disappoint
you, but I am
not going to
give you the
details of a
program that
is under
current
discussion
with the
authorities.
With IMF
programs, it
takes “two to
tango,” right?
So, we are
ready. We have
identified the
needs. We are
reaching out
to all
appropriate
authorities in
the country,
and we want
political
endorsement.
If we hear
solid partners
on the ground
say, aah, I am
not too sure
about this
program, not
too sure about
the IMF, not
too
sure about
borrowing, it
is a bit of an
issue.
But
we never leave
the
negotiation
table. Never.
We will keep
at it. We are
as focused
on helping
Egypt and
other Arab
Spring
countries as
we are in
helping
other
countries. It
is not a
question of
focusing on
one part of
the
world and not
the rest of
the world. We
will address
it with equal
force and
energy.
, 
