Kenneth Rijock

Kenneth Rijock

Monday, February 6, 2012

RAISE COUNTRY RISK FOR EGYPT

If you have not been following the events in Egypt, the government has announced that senior staff members of a number of foreign non-governmental organisations involved in supporting emerging democratic groups have been prevented from leaving the country, and that they will now be charged with criminal activities. A number of Americans are included on that list, including the son of the US Secretary of Transportation, Raymond La Hood. Other nationals whose exits have been blocked include those from a number of Middle Eastern Countries, and Germany. Their offices were previously raided and closed by law enforcement action, the contents carried away, and their funds confiscated.

Apparently the military government is employing an old law, left over from the Mubarak regime, that severely restricts the operation of foreign NGOs. This action has been condemned by the Government of the United States. American aid to Egypt, billions of dollars a year, is in jeopardy, and if it is cut off, as has been threatened by the US Congress, the Egyptian economy could be seriously affected, as will the operation of the military, which largely operates on this aid.

Watch American actions closely, and if it appears that aid will be diminished or cut, consider raising country risk for Egypt.


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