New Billboards Across Egypt's Capital Extol Austerity

ABC News ^ | 03 September 2016 | hamza hendawi

[Lorianne]

Billboards and street signs have gone up across Egypt's capital extolling austerity and hope, part of a pro-government public relations campaign aimed at preparing Egyptians for sweeping economic reforms.

The advertising blitz follows last month's provisional agreement by the International Monetary Fund to give Egypt a $12 billion loan over three years to help President Abdel-Fattah el-Sissi's government overhaul the ailing economy.

The agreement has yet to be ratified by the IMF's executive board, but the first installment of the loan is expected to be disbursed later this year.

The campaign's main slogan is: "Oh, Egypt, with bold reforms, we shorten the road." Other messages include "Fear and skepticism lengthen the road," as well as "Rationalize our consumption, reduce our imports."

Egypt is expected to gradually lift state subsidies on fuel, basic services and food items as part of its reform program. It is also expected to devalue or float its currency, the pound, to bolster exports and stamp out a flourishing black market in U.S. dollars.

Such moves would help wean Egypt off of billions of dollars in foreign aid -- mainly from Gulf countries -- which has propped up the economy since el-Sissi led the 2013 military overthrow of President Mohamed Morsi, an elected Islamist.

[Lorianne]

More bailing out the unsustainable. In ancient times Egypt was the breadbasket of Europe.

Today, it is not food self sufficient and has not enough resources to trade for the food it needs to sustain its massive population. Ditto other African and Middle Eastern countries ... such as Yemen

Therefore the massive amounts of foreign aid.

[StormEye]

"Today, it is not food self sufficient and has not enough
resources to trade for the food it needs to sustain its massive population.

And that's the "Third World's" main problem.
These people don't know how to control themselves.
They breed in areas that can only support small human populations
and have few resources, then they whine to
the rest for world for money, food, infrastructure and technology.
Ultimately they all want to move to the white, Western countries
and cause the same troubles there while demanding their "rights."

[EQAndyBuzz]

Build desalination facilities and run pipes inland. In 5 years Africa could feed the world. Just take the money from the UN.