Posted by: r.m. | February 24, 2011

more on IMF and dictatorships and revolt

In 2007 the World Bank declared that Egypt was “the world’s top reformer”. Economic journalists in Cairo described Mubarak as “an IMF poster child”. The regime became a model for the IMF.

IF Egypt were such a ‘model,’ then why have workers in Egypt – in the tens of thousands – protested and continue to protest?

Mubarak’s Egypt:

“His regime accelerated the process of opening the economy to the world market, which began in the early 1970s, and away from a state-led model of economic development in alliance with some big business interests.”

“Over the last decade, neoliberal policies were adopted at breakneck speed. The IMF proclaimed in 2006 that the privatization of two-thirds of state companies and the liberalization of laws on land ownership had “surpassed expectations.” This process, as elsewhere, led to a big concentration of wealth at the top, among some state officials, military and civilian (usually former military), and new layers of businessmen (especially the circle around Mubarak’s son, Gamal). It also brought massive job losses, pressure on wages, longer working hours, and one in ten small farmers driven off the land.”


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  1. […] This post was mentioned on Twitter by kishkafka, Rania Masri. Rania Masri said: more on IMF and dictatorships and revolt http://wp.me/p4JiZ-14C […]


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