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Back in the 1990s one of Egypt’s top economic priorities was the privatization of state-owned industries, as Egypt tried to free itself from a failing, centrally controlled economy.
But the government’s enthusiasm waned over the years, and last month the government quietly announced that the sale of state assets to individual investors had effectively ended.
Privatization began in earnest in 1991, when Egypt agreed to work with international lenders on an economic restructuring plan to help it repair a failing economy. This represented an effort to accelerate changes started in the 1970s by President Anwar el-Sadat, who began the process of dismantling the state-controlled economy fashioned by President Gamal Abdel Nasser in the 1950s and early ’60s.
A group of powerful multilateral financial institutions are joining forces to support Arab hopes for a better economic future, the US and French governments announced Thursday.
The World Bank, the European Bank for Reconstruction and Development, the African Development Bank and the Islamic Development Bank are among the institutions that have pledged to have an "action plan" outlined by the end of May, the two countries said in a joint statement in Washington.
Originally posted by exponencial
Only 4 countries left: Sudan, Cuba, N. Korea and Iran... They already tried Cuba in 1961 with the so-called Bay of Pigs Invasion. But that didn't work out.... After they are done in Libya, they will move on to Sudan.... The last 3 countries will need a much larger firepower and will cause WWIII for sure.
Yugoslavia, Afghanistan, and Iraq, were also states with government owned banks... not anymore
Even a blind person can see whats going on now
The Mubarak regime was the second largest recipient of U.S. financial and military aid in the world. One third of ALL publicly reported U.S. foreign aid goes to Egypt and Israel:
Without this vast military aid from the U.S., Mubarak would not have been able to maintain his 30 year reign. This is a cold hard fact. So then, why go against a leader you already have firmly in your grasp?