Misri كتب:

Sent: Saturday, September 17, 2005 5:21 AM

Subject: Egypt Ministry of Finance Ad!

I am sending this article as I received it, and I fully sympathize with the senders views.
To understand politics, we must read between the lies.
Akeel

Friends, the attached advertisement was in the UK’s Financial Times of September 14, 2005.

Having been in the business for many years, I was somewhat shocked & dismayed of it’s contents.

On the surface, it seems innocuous enough. Egypt will be raising $1.25 billion at the best interest rate possible. As we all know our country badly need these funds. Right?

A: Wrong. This loan is guaranteed by the US government (& that’s why the interest rate will be the lowest available). However, what is Egypt doing in return to get this magnanimous offer from the US? There must be some secret clauses in the loan agreement between the US & Egypt. Does anyone know about this confidential give away? Obviously not, since parliament is not in session and nobody is really aware of this matter. Now suppose, Egypt is unable to repay the loan, God forbid, will the US foreclose on Egypt? Have we already forgotten the Suez Canal financing debacle and its consequences which turned Egypt into a British colony?

B: From the wording of article (9) the lead manager of the loan will have to be, in all probability, a US entity. Under the circumstances, you can be sure that the fees will be padded, and bloated, and a lot of illegal funds will exchange hands under the table. Shades of Iraq!

C: Will the US lead manager keep the highly confidential information under wrap? Will a chicken grow teeth? Egypt, will have to open its books to some very undesirable entities which we are all familiar with.

D: So the deadline is September 16, 2005 i.e. today. The advertisement was issued on September 14, 2005.  Does this tell you anything? Obviously the Ad was issued “pour la form” and someone has already been chosen. Also, the Ministry of Finance is anxious to pass this project under the radar as soon as possible for some ulterior motive.

Sadly, plus sa change plus c’est la meme chose