Democracy Uprising
  • About
    • About Mark Engler
    • About Democracy Uprising
  • Books
    • This Is An Uprising
    • How To Rule the World
  • Topics
    • All Social Movements Religion U.S. Politics / Elections War / Militarism Book Reviews Environment Essays / First Person Global Economy Immigration Labor Latin America
      Social Movements

      Could we be entering a ‘movement moment’ against…

      Social Movements

      Trump’s backpedaling shows he’s not invincible

      Latest Articles

      It’s going to take multiple strategies to win…

      Social Movements

      A new wave of movements against Trumpism is…

      Social Movements

      How to make sure your disruptive protest helps…

      2023-2025

      Why protests work, even when not everybody likes…

      Social Movements

      Harold Washington’s lessons for taking on a political…

      Social Movements

      Strategy is a Craft

      Social Movements

      Could we be entering a ‘movement moment’ against…

      Social Movements

      Trump’s backpedaling shows he’s not invincible

      Social Movements

      It’s going to take multiple strategies to win…

      Social Movements

      A new wave of movements against Trumpism is…

      Social Movements

      How to make sure your disruptive protest helps…

      Social Movements

      Why protests work, even when not everybody likes…

      Social Movements

      Harold Washington’s lessons for taking on a political…

      Social Movements

      Strategy is a Craft

      Religion

      In God’s Country

      Religion

      Reverend Billy’s Holiday Shopocalypse

      Religion

      Toward the “Rights of the Poor”

      Religion

      The Pope and the Poor

      Religion

      Will the Next Pope Embrace Liberation Theology?

      Religion

      Remembering Romero

      Religion

      John Paul II’s Economic Ethics

      Religion

      Against the God of Free Trade

      U.S. Politics / Elections

      Could we be entering a ‘movement moment’ against…

      U.S. Politics / Elections

      Trump’s backpedaling shows he’s not invincible

      U.S. Politics / Elections

      It’s going to take multiple strategies to win…

      U.S. Politics / Elections

      A new wave of movements against Trumpism is…

      U.S. Politics / Elections

      Harold Washington’s lessons for taking on a political…

      U.S. Politics / Elections

      Strategy is a Craft

      U.S. Politics / Elections

      Think #MeToo didn’t make a real difference? Think…

      U.S. Politics / Elections

      This new model for upholding labor law may…

      War / Militarism

      Does It Make Sense to Protest a President…

      War / Militarism

      Lessons from the Pledge of Resistance

      War / Militarism

      Is Rambo Still A Republican?

      War / Militarism

      War: The Wrong Jobs Program

      War / Militarism

      The Ascent of Niall Ferguson

      War / Militarism

      Those Who Don’t Count

      War / Militarism

      Six Essays About War and About Peace

      War / Militarism

      The Dangerous Dignity of War

      Book Reviews

      The Pan American

      Book Reviews

      The Godfather of Microcredit

      Book Reviews

      Capitalism as Catastrophe

      Book Reviews

      Four Ways of Looking at an Aztec Eagle

      Book Reviews

      The Ascent of Niall Ferguson

      Book Reviews

      Ordinary Outrages

      Book Reviews

      No Better Place

      Book Reviews

      In God’s Country

      Environment

      Why Wendell Matters

      Environment

      The Gulf at the Gas Station

      Environment

      Climate Disobedience

      Environment

      Farming the Everglades

      Environment

      The Winter of the Climate Denier

      Environment

      Climate of Change: An “Inside-Outside” Strategy Against Global…

      Environment

      Provoking an American Climate Crisis

      Environment

      The Real “Farmer” Story: So God Made High-Fructose…

      Essays / First Person

      Is Rambo Still A Republican?

      Essays / First Person

      On the Price is Right

      Essays / First Person

      The Last Porto Alegre

      Essays / First Person

      Six Essays About War and About Peace

      Essays / First Person

      Republicans Among Us

      Essays / First Person

      New York Says “No”

      Essays / First Person

      The Sideshow Rebels

      Essays / First Person

      A Week in New York

      Global Economy

      Meet the Bailout’s New Slush Fund for Corporate…

      Global Economy

      The Seattle Protests Showed That Another World Is…

      Global Economy

      Jeff Bezos Has Enough! It’s Time for a…

      Global Economy

      The Amazon Effect: Sweat, Surveillance, Exploitation

      Global Economy

      The Godfather of Microcredit

      Global Economy

      Capitalism as Catastrophe

      Global Economy

      Immigration Economics: An Interview with Professor Giovanni Peri

      Global Economy

      The World Is Not Flat

      Immigration

      When Undocumented Activists Infiltrated ICE

      Immigration

      The Children of Intervention

      Immigration

      Immigration Economics: An Interview with Professor Giovanni Peri

      Immigration

      Science Fiction From Below

      Immigration

      Four Ways of Looking at an Aztec Eagle

      Immigration

      Treated Like a Criminal

      Immigration

      When Sanctuary is Resistance

      Immigration

      The Massive Immigrants Rights Protests of 2006 Are…

      Labor

      This new model for upholding labor law may…

      Labor

      Democrats Won Power in Several States. Will They…

      Labor

      The Case for a Social Distancing Wage

      Labor

      The Seattle Protests Showed That Another World Is…

      Labor

      Reviving the General Strike

      Labor

      Jeff Bezos Has Enough! It’s Time for a…

      Labor

      There’s Still Power in a Strike

      Labor

      The Amazon Effect: Sweat, Surveillance, Exploitation

      Latin America

      How movements can maintain their radical vision while winning…

      Latin America

      The Pan American

      Latin America

      Lessons from the Pledge of Resistance

      Latin America

      The Children of Intervention

      Latin America

      Against Shithole Nationalism

      Latin America

      The Last Porto Alegre

      Latin America

      Kissinger Is Not Our Friend

      Latin America

      Even If You Have Nothing to Hide

  • Translations
    • All Italiano Japanese Português Arabic Thai Chinese Deutsch Español Français
      Swedish

      Jordlösa kombinerar radikala visioner med praktiska reformer (Swedish)

      Español

      Hacer Que Nuestras Demandas Sean Tanto Orácticas Como…

      Italiano

      C’è più di un modo per colpire il…

      Português

      As reformas não reformistas de André Gorz mostram…

      Español

      Las reformas no reformistas de André Gorz

      Deutsch

      Die nicht-reformistischen Reformen von André Gorz

      Italiano

      Richieste dei movimenti: sia pratiche che visionarie

      Chinese

      泛美洲人 爱德华多·加莱亚诺的世界 (Chinese)

      Italiano

      C’è più di un modo per colpire il…

      Italiano

      Richieste dei movimenti: sia pratiche che visionarie

      Italiano

      La strategia di Gandhi per il successo –…

      Italiano

      Le promesse infrante di Obama

      Italiano

      Guantanamo deve sparire

      Italiano

      IL BANK TRANSFER DAY: UN SUCCESSO

      Italiano

      Come il movimento Occupiamo Wall Street si sta…

      Italiano

      Economia tabù

      Japanese

      ガンジーはどのように勝利したのか? (Japanese)

      Japanese

      Truth Versus Superpower (Japanese)

      Japanese

      Bush’s Bad Business Empire (Japanese)

      Japanese

      Revenge of the Combat Cartoonist (Japanese)

      Japanese

      Bush’s Uneasy Mexican Visita (Japanese)

      Japanese

      Mark Twain in Iraq (Japanese)

      Japanese

      Globalization’s “Lost Decade” (Japanese)

      Japanese

      Hawks Say the Damnedest Things (Japanese)

      Português

      As reformas não reformistas de André Gorz mostram…

      Português

      A vida na Nação Prisão

      Português

      Outro pretexto?

      Português

      Imigração tem efeito positivo sobre emprego e salários

      Português

      O império hipotecado

      Arabic

      Abandoning the World Bank (in Arabic)

      Arabic

      The Return of Daniel Ortega (in Arabic)

      Arabic

      Where’s The Jubilee? (in Arabic)

      Arabic

      The Last Porto Alegre (in Arabic)

      Arabic

      Seattle At Five (in Arabic)

      Arabic

      Is Market Access the Answer to Poverty? (in…

      Arabic

      Mexico’s Democratic Transition Still Incomplete (in Arabic)

      Thai

      Progressive Good Tidings of 2007 (in Thai)

      Thai

      2006: A Global Justice Year in Review (In…

      Thai

      WTO: Best Left For Dead? (In Thai)

      Thai

      Is Market Access the Answer to Poverty? (In…

      Thai

      Bush’s Bad Business Empire (In Thai)

      Thai

      The Last Porto Alegre [Thai]

      Thai

      Globalizers, Neocons, or… ? (in Thai)

      Chinese

      泛美洲人 爱德华多·加莱亚诺的世界 (Chinese)

      Chinese

      Why Wendell Matters (in Chinese)

      Chinese

      Globalization’s Watchdogs (in Chinese)

      Deutsch

      Die nicht-reformistischen Reformen von André Gorz

      Deutsch

      Als Martin Luther King seine Feuerwaffen aufgab

      Deutsch

      Mikrokredite: Die Entlassung eines Nobelpreisträgers

      Deutsch

      CAFTA – am besten stillschweigend beerdigen

      Deutsch

      Bush in Mexiko

      Deutsch

      Das globale Duell in Evian

      Deutsch

      Die Rückkehr des Daniel Ortega

      Español

      Hacer Que Nuestras Demandas Sean Tanto Orácticas Como…

      Español

      Las reformas no reformistas de André Gorz

      Español

      ¿Adoptará el nuevo papa la teología de la…

      Español

      Wall Street quiere que les estemos agradecidos

      Español

      Si Las Monjas Se Fueran a una Huelga,…

      Español

      ALEC retrocede; a la derecha le da un…

      Español

      ¿ALEC disgustado ante la pérdida de patrocinadores? Se…

      Español

      La vida en la nación prisión

      Français

      La révolution non-violente a-t-elle échoué en Egypte?

      Français

      Le pari risqué du populisme au Pérou

      Français

      Hong Kong Phooey

      Français

      Bush Nuit Même Aux Compagnies U.S.

      Français

      Le dynamisme du mouvement pour la paix

      Français

      La déroute de l’ALCA dans une Miami en…

      Français

      Ceux qui ne comptent pas

      Français

      La guerre en Irak : une expo des…

    • Other Translations
  • Appearances
  • Archive
    • 2023-2025
    • 2021-2022
    • 2019-2020
    • 2017-2018
    • 2015-2016
    • 2013-2014
    • 2011-2012
    • 2009-2010
    • 2007-2008
    • 2005-2006
    • 2003-2004
    • 1999-2002

Democracy Uprising

  • About
    • About Mark Engler
    • About Democracy Uprising
  • Books
    • This Is An Uprising
    • How To Rule the World
  • Topics
    • All Social Movements Religion U.S. Politics / Elections War / Militarism Book Reviews Environment Essays / First Person Global Economy Immigration Labor Latin America
      Social Movements

      Could we be entering a ‘movement moment’ against…

      Social Movements

      Trump’s backpedaling shows he’s not invincible

      Latest Articles

      It’s going to take multiple strategies to win…

      Social Movements

      A new wave of movements against Trumpism is…

      Social Movements

      How to make sure your disruptive protest helps…

      2023-2025

      Why protests work, even when not everybody likes…

      Social Movements

      Harold Washington’s lessons for taking on a political…

      Social Movements

      Strategy is a Craft

      Social Movements

      Could we be entering a ‘movement moment’ against…

      Social Movements

      Trump’s backpedaling shows he’s not invincible

      Social Movements

      It’s going to take multiple strategies to win…

      Social Movements

      A new wave of movements against Trumpism is…

      Social Movements

      How to make sure your disruptive protest helps…

      Social Movements

      Why protests work, even when not everybody likes…

      Social Movements

      Harold Washington’s lessons for taking on a political…

      Social Movements

      Strategy is a Craft

      Religion

      In God’s Country

      Religion

      Reverend Billy’s Holiday Shopocalypse

      Religion

      Toward the “Rights of the Poor”

      Religion

      The Pope and the Poor

      Religion

      Will the Next Pope Embrace Liberation Theology?

      Religion

      Remembering Romero

      Religion

      John Paul II’s Economic Ethics

      Religion

      Against the God of Free Trade

      U.S. Politics / Elections

      Could we be entering a ‘movement moment’ against…

      U.S. Politics / Elections

      Trump’s backpedaling shows he’s not invincible

      U.S. Politics / Elections

      It’s going to take multiple strategies to win…

      U.S. Politics / Elections

      A new wave of movements against Trumpism is…

      U.S. Politics / Elections

      Harold Washington’s lessons for taking on a political…

      U.S. Politics / Elections

      Strategy is a Craft

      U.S. Politics / Elections

      Think #MeToo didn’t make a real difference? Think…

      U.S. Politics / Elections

      This new model for upholding labor law may…

      War / Militarism

      Does It Make Sense to Protest a President…

      War / Militarism

      Lessons from the Pledge of Resistance

      War / Militarism

      Is Rambo Still A Republican?

      War / Militarism

      War: The Wrong Jobs Program

      War / Militarism

      The Ascent of Niall Ferguson

      War / Militarism

      Those Who Don’t Count

      War / Militarism

      Six Essays About War and About Peace

      War / Militarism

      The Dangerous Dignity of War

      Book Reviews

      The Pan American

      Book Reviews

      The Godfather of Microcredit

      Book Reviews

      Capitalism as Catastrophe

      Book Reviews

      Four Ways of Looking at an Aztec Eagle

      Book Reviews

      The Ascent of Niall Ferguson

      Book Reviews

      Ordinary Outrages

      Book Reviews

      No Better Place

      Book Reviews

      In God’s Country

      Environment

      Why Wendell Matters

      Environment

      The Gulf at the Gas Station

      Environment

      Climate Disobedience

      Environment

      Farming the Everglades

      Environment

      The Winter of the Climate Denier

      Environment

      Climate of Change: An “Inside-Outside” Strategy Against Global…

      Environment

      Provoking an American Climate Crisis

      Environment

      The Real “Farmer” Story: So God Made High-Fructose…

      Essays / First Person

      Is Rambo Still A Republican?

      Essays / First Person

      On the Price is Right

      Essays / First Person

      The Last Porto Alegre

      Essays / First Person

      Six Essays About War and About Peace

      Essays / First Person

      Republicans Among Us

      Essays / First Person

      New York Says “No”

      Essays / First Person

      The Sideshow Rebels

      Essays / First Person

      A Week in New York

      Global Economy

      Meet the Bailout’s New Slush Fund for Corporate…

      Global Economy

      The Seattle Protests Showed That Another World Is…

      Global Economy

      Jeff Bezos Has Enough! It’s Time for a…

      Global Economy

      The Amazon Effect: Sweat, Surveillance, Exploitation

      Global Economy

      The Godfather of Microcredit

      Global Economy

      Capitalism as Catastrophe

      Global Economy

      Immigration Economics: An Interview with Professor Giovanni Peri

      Global Economy

      The World Is Not Flat

      Immigration

      When Undocumented Activists Infiltrated ICE

      Immigration

      The Children of Intervention

      Immigration

      Immigration Economics: An Interview with Professor Giovanni Peri

      Immigration

      Science Fiction From Below

      Immigration

      Four Ways of Looking at an Aztec Eagle

      Immigration

      Treated Like a Criminal

      Immigration

      When Sanctuary is Resistance

      Immigration

      The Massive Immigrants Rights Protests of 2006 Are…

      Labor

      This new model for upholding labor law may…

      Labor

      Democrats Won Power in Several States. Will They…

      Labor

      The Case for a Social Distancing Wage

      Labor

      The Seattle Protests Showed That Another World Is…

      Labor

      Reviving the General Strike

      Labor

      Jeff Bezos Has Enough! It’s Time for a…

      Labor

      There’s Still Power in a Strike

      Labor

      The Amazon Effect: Sweat, Surveillance, Exploitation

      Latin America

      How movements can maintain their radical vision while winning…

      Latin America

      The Pan American

      Latin America

      Lessons from the Pledge of Resistance

      Latin America

      The Children of Intervention

      Latin America

      Against Shithole Nationalism

      Latin America

      The Last Porto Alegre

      Latin America

      Kissinger Is Not Our Friend

      Latin America

      Even If You Have Nothing to Hide

  • Translations
    • All Italiano Japanese Português Arabic Thai Chinese Deutsch Español Français
      Swedish

      Jordlösa kombinerar radikala visioner med praktiska reformer (Swedish)

      Español

      Hacer Que Nuestras Demandas Sean Tanto Orácticas Como…

      Italiano

      C’è più di un modo per colpire il…

      Português

      As reformas não reformistas de André Gorz mostram…

      Español

      Las reformas no reformistas de André Gorz

      Deutsch

      Die nicht-reformistischen Reformen von André Gorz

      Italiano

      Richieste dei movimenti: sia pratiche che visionarie

      Chinese

      泛美洲人 爱德华多·加莱亚诺的世界 (Chinese)

      Italiano

      C’è più di un modo per colpire il…

      Italiano

      Richieste dei movimenti: sia pratiche che visionarie

      Italiano

      La strategia di Gandhi per il successo –…

      Italiano

      Le promesse infrante di Obama

      Italiano

      Guantanamo deve sparire

      Italiano

      IL BANK TRANSFER DAY: UN SUCCESSO

      Italiano

      Come il movimento Occupiamo Wall Street si sta…

      Italiano

      Economia tabù

      Japanese

      ガンジーはどのように勝利したのか? (Japanese)

      Japanese

      Truth Versus Superpower (Japanese)

      Japanese

      Bush’s Bad Business Empire (Japanese)

      Japanese

      Revenge of the Combat Cartoonist (Japanese)

      Japanese

      Bush’s Uneasy Mexican Visita (Japanese)

      Japanese

      Mark Twain in Iraq (Japanese)

      Japanese

      Globalization’s “Lost Decade” (Japanese)

      Japanese

      Hawks Say the Damnedest Things (Japanese)

      Português

      As reformas não reformistas de André Gorz mostram…

      Português

      A vida na Nação Prisão

      Português

      Outro pretexto?

      Português

      Imigração tem efeito positivo sobre emprego e salários

      Português

      O império hipotecado

      Arabic

      Abandoning the World Bank (in Arabic)

      Arabic

      The Return of Daniel Ortega (in Arabic)

      Arabic

      Where’s The Jubilee? (in Arabic)

      Arabic

      The Last Porto Alegre (in Arabic)

      Arabic

      Seattle At Five (in Arabic)

      Arabic

      Is Market Access the Answer to Poverty? (in…

      Arabic

      Mexico’s Democratic Transition Still Incomplete (in Arabic)

      Thai

      Progressive Good Tidings of 2007 (in Thai)

      Thai

      2006: A Global Justice Year in Review (In…

      Thai

      WTO: Best Left For Dead? (In Thai)

      Thai

      Is Market Access the Answer to Poverty? (In…

      Thai

      Bush’s Bad Business Empire (In Thai)

      Thai

      The Last Porto Alegre [Thai]

      Thai

      Globalizers, Neocons, or… ? (in Thai)

      Chinese

      泛美洲人 爱德华多·加莱亚诺的世界 (Chinese)

      Chinese

      Why Wendell Matters (in Chinese)

      Chinese

      Globalization’s Watchdogs (in Chinese)

      Deutsch

      Die nicht-reformistischen Reformen von André Gorz

      Deutsch

      Als Martin Luther King seine Feuerwaffen aufgab

      Deutsch

      Mikrokredite: Die Entlassung eines Nobelpreisträgers

      Deutsch

      CAFTA – am besten stillschweigend beerdigen

      Deutsch

      Bush in Mexiko

      Deutsch

      Das globale Duell in Evian

      Deutsch

      Die Rückkehr des Daniel Ortega

      Español

      Hacer Que Nuestras Demandas Sean Tanto Orácticas Como…

      Español

      Las reformas no reformistas de André Gorz

      Español

      ¿Adoptará el nuevo papa la teología de la…

      Español

      Wall Street quiere que les estemos agradecidos

      Español

      Si Las Monjas Se Fueran a una Huelga,…

      Español

      ALEC retrocede; a la derecha le da un…

      Español

      ¿ALEC disgustado ante la pérdida de patrocinadores? Se…

      Español

      La vida en la nación prisión

      Français

      La révolution non-violente a-t-elle échoué en Egypte?

      Français

      Le pari risqué du populisme au Pérou

      Français

      Hong Kong Phooey

      Français

      Bush Nuit Même Aux Compagnies U.S.

      Français

      Le dynamisme du mouvement pour la paix

      Français

      La déroute de l’ALCA dans une Miami en…

      Français

      Ceux qui ne comptent pas

      Français

      La guerre en Irak : une expo des…

    • Other Translations
  • Appearances
  • Archive
    • 2023-2025
    • 2021-2022
    • 2019-2020
    • 2017-2018
    • 2015-2016
    • 2013-2014
    • 2011-2012
    • 2009-2010
    • 2007-2008
    • 2005-2006
    • 2003-2004
    • 1999-2002
2011-2012Blog

Kudos to Egypt for Ditching the IMF

by Mark Engler July 11, 2011
written by Mark Engler July 11, 2011
Kudos to Egypt for Ditching the IMF

A dispatch for the “Arguing the World” blog at Dissent magazine.

Published in Dissent.


On Friday, crowds of protesters returned to Cairo’s Tahrir Square, with independent trade unions calling for the country’s yet-unfinished revolution to continue. The unionists, according to Ahram Online, “stressed the need to achieve social justice, the prosecution of all corrupt figures of the old regime, and the establishment of a full democracy.”

That activists are keeping up street pressure for democratic reforms is a positive sign. And it follows on the heels of another one: the recent, surprise decision by the country’s interim leaders to spurn the International Monetary Fund.

In late June, the BBC reported, “Egypt drop[ped] plans for [an] IMF loan amid popular distrust.” Despite the IMF’s insistence that it was offering financing on favorable terms, the story noted, “many Egyptians were unhappy, feeling it was a betrayal of the protest movement that had denounced the IMF as a tool of imperialism.”

From the beginning of the Arab Spring revolts, many progressive commentators have expressed concern that people in countries such as Egypt and Tunisia might win greater political freedoms but would have their nations’ economic policies hijacked by the international financial institutions. Walden Bello, for one, reflected on pro-democracy transitions in the Philippines, Latin America, and Eastern Europe, and bemoaned a sad pattern:

“Even as traditional elites hijacked the resurgent parliamentary systems, the United States and the multilateral agencies subverted them to push through austerity programs that the authoritarian regimes they previously supported had no longer been able to impose on recalcitrant citizenries. It soon became clear that Washington and the multilateral agencies wanted the new democratic regimes to use their legitimacy to impose repressive economic adjustment programs and debt management policies.”

In the past decade and a half, as the terrible economic track record of IMF-imposed structural adjustment in the 1980s and ’90s has come to light, neoliberal economic policies have come under assault, and the IMF’s power has substantially diminished. This was especially true prior to the major economic downturn that started in 2008, which, ironically, gave the fund something of a new lease on life. (Ironically, because drives for deregulation promoted by Washington Consensus economists did plenty to spur the crisis in the first place.)

The IMF has by now recognized that attaching neoliberal conditions to loans to Egypt would result in a lot of political flak. It went as far as to claim that it was pursuing a “no strings attached” approach this time. Ratna Sahay, Deputy Director of the IMF’s Middle East and Central Asia Department, stated:

“No, nothing was hidden or kept quiet….The Egyptian authorities designed their own program with explicit policies and measures. The IMF arrangement included a number of benchmarks, which consisted of measures that were already in the government’s economic plan, none of them related to privatization or requiring changes to the subsidy regime during the period of IMF arrangement. In fact, we fully agreed with the authorities’ objective of promoting social justice and increasing transparency during this historical transition.”

Such reassurances are signs of progress, and in part they are the product of several decades of progressive campaigning against neoliberal “conditionality.” Yet many other indications suggest that Egyptians are still right to be wary.

In late May, the New York Times ran a story by Liz Alderman entitled, “Aid Pledge by Group of 8 Seeks to Bolster Arab Democracy.” Despite the friendly sounding headline, there were troubling passages deep in the article, such as this:

“Officials cautioned that the projected $20 billion in aid from international financial institutions would come in phases and be contingent on democratic and economic reforms. The pledge, an aide to President Obama said, was “not a blank check” but “an envelope that could be achieved in the context of suitable reform efforts.””

And:

“The Group of 8 leaders want their aid to help…by broadening economic opportunity and breaking down trade barriers; Egypt, seeking to protect state industries, has some of the highest in the world.”

While the story was not an editorial, but ostensibly a straight news report, it included some loaded paragraphs. Alderman wrote, for example:

“Old leftist political parties are re-emerging as though they have been frozen in time for the 30 years of the Mubarak police state to demand that the government again expand its role in the economy to help the poor, even at the price of discouraging foreign investors.”

Yes, the idea that government might conceive of its role as having something to do with helping the poor (gasp!), rather than courting or bailing out international investors, is a notion that has been relegated to the trash heap of history by all sensible reporters.

Without question, the economic difficulties that the next government in Egypt will face are profound. Yet, as those who have examined the history in more detail—such as Adam Hanieh of the School of Oriental and African Studies (SOAS)—have remarked, Western aid and IMF economic “guidance” are not new to Egypt. They were hallmarks of the Mubarak dictatorship. It is to their credit that Egyptians have thus far chosen to break with this past.

* * * * *

Addendum: At Dissent, Feisal G. Mohamed, Associate Professor of English at the University of Illinois, Urbana-Champaign, offered the following response:

“I sympathize with Mark Engler’s kudos, and like him I was deeply skeptical of the G8’s conditional support of the Arab Spring. But I also wonder if there might be more to Egypt’s rejection of the IMF than meets the eye.

These informative posts on The Arabist and Al Jazeera suggest a couple of ways in which this rejection might be troubling.  First, it could be based on unrealistic economic projections.  Egypt’s transitional government may be underestimating the impact of the revolution on the nation’s economy.  Second, and I think more troubling, is that the government has agreed to accept financial gifts from Gulf states like Qatar and Saudi Arabia, each of which has pledged 500 million dollars.  There are no nations more ruthlessly opposed to the Arab Spring than the oily satrapies of the Gulf, which have moved swiftly through the Gulf Cooperation Council (GCC) to become a force of counter-revolution: this is especially visible in their military intervention in Bahrain; in their precipitous admission of their fellow monarchies, Morocco and Jordan; and in their plans to create a regional military.  The monies Egypt has accepted may come with more strings attached than the loans they have rejected.

Or perhaps this is admirable canniness: as several nations court an alliance with the new Egypt, it has become the object of a good deal of international largesse, including 1 billion dollars in debt relief from the United States. Why take out loans when the world is showering you with cash?”

Mark replied:

“It is a fair point that Feisal Mohamed raises: all financing comes with strings attached. In other parts of the world, China has become a significant player in development lending and investment, and I think people are right to question whether its aims and ambitions are any purer than those of the IMF and other Washington-based institutions. That said, my general view is that more pluralism in development financing is a good thing, creating more space for experimentation, self-determination, and independence in economic policy making. Let’s hope that Egypt is able to benefit from its competing suitors without becoming beholden to any of them.”

Arab SpringEgyptG8International Monetary Fund (IMF)neoliberalismWalden Bello
Mark Engler

Mark Engler is a writer based in Philadelphia and an editorial board member at Dissent magazine. His latest book, written with Paul Engler, is entitled This Is an Uprising: How Nonviolent Revolt Is Shaping the Twenty-First Century.

previous post
Economia tabù
next post
Joe Nocera’s Not Too Bad, at Least for the NYT Op-Ed Page

You may also like

It’s going to take multiple strategies to win...

January 31, 2025

Ai-jen Poo: Organizing a Movement for Care

November 30, 2011

War: The Wrong Jobs Program

November 17, 2011

George Takei’s Social Media Activism

April 2, 2013

Boy Scouts Set to Cave on Gay Rights

January 31, 2013

It’s Time for a Union at Wal-Mart

December 1, 2012

After the Election: Time to Stop Settling for...

November 9, 2012

How Not to Make Every Vote Count

November 1, 2012

Will Occupy Live to See Another Birthday?

September 1, 2012

Obama: A Better Adversary

September 1, 2012

Subscribe

Sign up to receive new articles and essays by email via our Substack newsletter, "Dispatches from the Whirlwind":

The Author

Mark Engler is a writer based in Philadelphia and an editorial board member at Dissent magazine. His latest book, written with Paul Engler, is entitled This Is an Uprising: How Nonviolent Revolt Is Shaping the Twenty-First Century (Nation Books). Mark’s full bio is available here.

Latest Articles

  • Could we be entering a ‘movement moment’ against Trump?

    April 10, 2025
  • Trump’s backpedaling shows he’s not invincible

    March 19, 2025
  • It’s going to take multiple strategies to win under Trump 2.0

    January 31, 2025
  • A new wave of movements against Trumpism is coming

    November 9, 2024
  • How to make sure your disruptive protest helps your cause

    August 9, 2024

Mark’s Articles Appear In:

  • Dissent
  • The Nation
  • The New Republic
  • N+1
  • Salon.com
  • The Los Angeles Times
  • Waging Nonviolence
  • Boston Review
  • The Atlantic
  • Rolling Stone
  • The Guardian
  • In These Times
  • TomDispatch
  • New Internationalist
  • Yes! Magazine
  • Audubon Magazine
  • Jacobin
  • Mother Jones
  • Le Monde diplomatique
  • Grist Magazine
  • Rebelión
  • The San Francisco Chronicle
  • The Progressive
  • Newsday
  • openDemocracy
  • Truthout
  • Christian Science Monitor
  • Dollars & Sense
  • Progreso Semanal
  • Chicago Reader
  • Sin Permiso
  • Baltimore Sun
  • The Ecologist
  • TruthDig
  • Asia Times
  • Sierra Magazine
  • Labor Notes
  • New Politics
  • The Catholic Worker
  • The Des Moines Register
  • Facebook
  • Twitter
  • Email

Back To Top