The World Bank envoy packed their bags and went back to where they came from, following negotiations with the government and meetings with leaders of the opposition that seemed to have stalled, for reasons unknown to me. Especially since we all know that the leaders they met have expressed their opposition to President Mohammad Morsi's rule and their desire to overthrow him in any way possible. They made several attempts and played all their cards in order to achieve this goal, and after the factional card was burned and buried in its cradle, all that was left was the economic card in their attempt to rock the presidential seat, convinced that they would be able to use it to seize the seat.
They do not care about the hard-working Egyptian citizens suffering in light of the economic crisis in the country, or their need for this loan in order for the Egyptian economy to recover and receive the stamp of approval that would attract investments in Egypt, open new job markets, and alleviate the unemployment crisis in the country. All this irritates these leaders because it will support President Morsi's rule through the support of the people who will begin to see the fruit of their revolution and the blessings of its country. Therefore, they refused the loan and frankly announced this after their meetings with the World Bank representatives. Matters got mixed up and unfortunately, their hatred for the Muslim Brotherhood became stronger than their love for their country. During a meeting, one of them even said let Egypt burn for the sake of overthrowing the Muslim Brotherhood!
Therefore, I am astonished at the World Bank's insistence on accepting such individuals, despite the fact that negotiations should be made with the government because it is the only party dedicated to making the agreement. However, because matters are not as transparent as they should be, we do not know exactly what the World Bank's terms and conditions are. This has led to several rumours about ending the subsidisation of goods, especially those relating to energy, such as diesel fuel and gasoline, as well as an increase in electricity prices. The government is denying this, although they should have addressed the people frankly through the Prime Minister, Dr Hesham Kandil, with regard to the reality of the economic crisis suffered by the country. They also should have implemented short-term and long-term solutions to resolve this crisis, much like a doctor frankly telling their patient about the severity of their disease and prescribing the bitter medicine needed to treat them. The bitterness of this medicine would turn into sweet honey because the hope for recovery has alleviated the bitterness of the medicine, the opposite of which would have happened if the doctor did not tell the patient the truth, and they refused to take the medicine and preferred to die.
Therefore, the people must be told the truth in order to help them make the difficult choices and so that they are prepared to accept them out of hope for ending this crisis and escaping the bottleneck the Egyptian economy has been stuck in for years; it will then be able to emerge and begin its modern renewal. What we want is real hope, not false hope that deceives the people. The Prime Minister, Hesham Kandil, is required to tell the people what Churchill told the British people after WWII "I have nothing to offer but blood, toil, tears and sweat to build Great Britain." The people must be involved in the government's negotiations with the IMF in order for them to be an asset and support the government's negotiations, and so it does not impose impossible conditions that become a burden on the Egyptian citizen.
We wouldn't have wanted this loan if it weren't for the chaotic mess left behind by the former regime that seized the country's treasures; the burden inherited by this regime, headed by its President, Dr Morsi, who is working day and night to save Egypt; may God help him and Egypt.
The views expressed in this article belong to the author and do not necessarily reflect the editorial policy of Middle East Monitor.