Skip to content
Catholic Online Logo

By Catholic Online (NEWS CONSORTIUM)

5/6/2013 (1 year ago)

Catholic Online (www.catholic.org)

Hopes that new regime would revitalize economy have all been dashed

When Egypt, both the Arab world and Africa's most populous nation rose up to depose President Hosni Mubarak two years ago, hopes ran high that a new regime would usher in a new era of economic prosperity. Nothing could be further from the truth, as the Egyptian economy has stagnated, the country's currency lost much of its value and inflation bumped up food prices.

Egypt today is a Land of Want. While the government currently subsidizes basic types of bread, other staples are becoming more expensive.

Egypt today is a Land of Want. While the government currently subsidizes basic types of bread, other staples are becoming more expensive.

Highlights

By Catholic Online (NEWS CONSORTIUM)

Catholic Online (www.catholic.org)

5/6/2013 (1 year ago)

Published in Africa

Keywords: Egypt, poverty, inflation, disillusionment, hunger, malnoutrition


LOS ANGELES, CA (Catholic Online) - Protesters during the much vaunted Arab spring had adopted the slogan: "Bread, freedom and social justice!" After current Egyptian President Mohammed Morsi came to power in June of last year, hopes ran high for economic and political reform. Many Egyptians at that time thought their lot would improve.

Egypt today is a Land of Want. While the government currently subsidizes basic types of bread, other staples are becoming more expensive. Kidney bean prices grew by nearly 24 percent in the year to March; onions were up 12 percent and tomatoes 10.1 percent.

Dr. Nadia Belhaj Hassine, of the International Economic Research Center blames most of Egypt's woes on the "huge problem of inexperienced government." The overall global downturn, regional turmoil and Islamist rhetoric has frightened away international investors.

"They are not aware of what has been done in the past and what should be done," she said. "They don't have any vision about what kind of economic reforms to undertake in the short and long term and how to improve the investment environment."

Some pin hopes on a $4.8-billion International Monetary Fund loan will help stabilize the economy, but the deal has not been signed. Foreign reserves, which were $36 billion in 2011, now stand at $13.5 billion, just enough for three months of such crucial imports as wheat and gas.

The Egyptian pound in the meantime has lost 13 percent of its value against the dollar in the past year, making essentials more expensive, hitting families particularly hard.

Around a quarter of the Egyptian population lives below the poverty line. Another 20 percent hover just above it. There are also indications that there are malnutrition rates of around 30 percent are also on the increase, he said.

Poverty and malnutrition has visible and long-term effects, Gian Pietro Bordignon, World Food Program country director says.

"Without essential nutrients, minerals, vitamins, children cannot grow their brain potential. They have a lower academic performance," he said. "Malnutrition is not only a personal problem of human suffering but impacts the nation as a whole."


---


Pope Francis: end world hunger through 'Prayer and Action'


Copywriter 2015 - Distributed by THE NEWS CONSORTIUM

Pope Francis Prayer Intentions for March 2015
Universal:
Scientists: That those involved in scientific research may serve the well-being of the whole human person.
Evangelization: Contribution of women: That the unique contribution of women to the life of the Church may be recognized always.


Rosaries, Crosses, Prayer Cards and more... by Catholic Shopping .com


Comments


More Africa

Obianuju Ekeocha Files Special Report From Nigeria: Protecting God's Gifts of Life and Family Watch

Image of Obianuju Ekeocha is an African woman, living and working in the United Kingdom as a Specialist Biomedical Scientist. She is also the founder of Culture of Life Africa, an initiative dedicated to the promotion of a Culture of Life in Africa  through the dissemination of good information, sensitization and education. She has written several articles including the

By Ms Obianuju Ekeocha and Most Reverend Emmanuel Badejo

In response to the encroaching Culture of Death, the increasing violation of the sanctity of human life around the world, and in line with Pope Francis' call for the need to sustain and support marriage and family life, the Catholic Bishops, priests, religious ... continue reading


Diabolical new ISIS video shows two groups of Christians brutally executed Watch

Image of The video depicts two groups of men, one in orange jumpsuits and the other in black, being killed at different locations in Libya.

By Catholic Online (NEWS CONSORTIUM)

In a malefic new Islamist State video, two separate groups of Christians are seen being led bound before being executed. The victims are thought to be Ethiopian Christians killed in Libya. The terror network's media arm, al-Furqan Media video is entitled "Until ... continue reading


Islamic State may have trouble infiltrating Morocco. Six jihadists detained for plotting terrorist attacks Watch

Image of A U.S. Marine and a Moroccan army soldier train together, part of a growing number of programs where Western militaries conduct drills with African nations in order to help them combat Islamic jihadists.

By Kaci Racelma (Catholic Online)

At least six members of a terrorist cell that had ties to the Islamic State were arrested in Morocco, Moroccan authorities announced on Monday. ALGIERS, ALGERIA (Catholic Online) - This cell was planing attacks on behalf of the Islamic State, and apparently had ... continue reading


Archaeologists amazingly uncover potential oldest tools in the world Watch

Image of

By Hannah Raissa Marfil (NEWS CONSORTIUM)

The oldest tools known to man was created about to 3.4 million years ago. Recent findings stated that the tools found at the archaeological site, Lomekwi 3, in Kenya are even older than the tools believed to be the oldest, about 2.6 years older. The findings were ... continue reading


At least 2,000 girls and women kidnapped by Boko Haram for illicit purposes Watch

Image of Protesters in front of the Nigerian Embassy in Washington hold signs during a march in support of the girls kidnapped by Boko Haram.

By Emma Farge and Alex Whiting, Thomson Reuters Foundation

Boko Haram Islamic militants have kidnapped at least 2,000 girls and women since the start of last year, turning them into cooks, sex slaves and fighters, and sometimes killing those who refused to comply, Amnesty International said on Tuesday. DAKAR/LONDON ... continue reading


#BringBackOurGirls: One year since the massive Boko Haram kidnapping and 219 Chibok schoolgirls are still missing Watch

Image of

By Abigail James (NEWS CONSORTIUM)

On April 14, 2014, 276 schoolgirls were horrifically kidnapped from Government Secondary School in Chibok by Boko Haram. Exactly one year later, the whereabouts of 219 of those young girls remains unknown. LOS ANGELES, CA (Catholic Online) - Since Boko Haram severely ... continue reading


Satellite images show Boko Haram's horrible handiwork as town wiped from Earth Watch

Image of Since the start of 2014, there has been at least 300 raids and attacks carried out by Boko Haram against civilians.

By Catholic Online (NEWS CONSORTIUM)

Satellite images reveal the horrible handiwork of the Nigerian terror group Boko Haram. The armed militants wiped Bama, a city in northern Nigeria from the face of the Earth. Stories are emerging of women and elderly persons being burned alive in their own ... continue reading


ISIS hacks popular French television network Watch

Image of French television network TV5 Monde has been hacked by a group claiming ISIS affiliation.

By Kaci Racelma (Catholic Online)

The Islamic State's grip on the world is strengthening more and more. This terrorist nebula that began by attacking cities and innocent people in the Middle East and North Africa has acquired enough ability to expand further. The engineers ISIS draws from North Africa ... continue reading


Islamic extremism continues to raid Tunisia with deadly ambushes Watch

Image of

By Kaci Racelma (Catholic Online)

The war against terrorism initiated by the Tunisian authorities does not seem to be ending soon. The country's security services lack experience in this war against an invisible enemy and are struggling to ensure security in the whole territory. ALGIERS, ALGERIA ... continue reading


Obama's excessive drone strikes in Somalia intensifies hate against Christians and the U.S. Watch

Image of President Obama and White House officials are defending the United States'

By Abigail James (News Consortium)

President Obama and White House officials are defending the United States' "low-investment, light-footprint approach to counterterrorism." As war and death plague places like Somalia and Yemen every day, President Obama continues to issue airstrikes with drones. LOS ... continue reading


All Africa News

Newsletters

Newsletter Sign Up icon

Stay up to date with the latest news, information, and special offers

Daily Readings

Reading 1, Acts 4:8-12
8 Then Peter, filled with the Holy Spirit, addressed ... Read More

Psalm, Psalms 118:1, 8-9, 21-23, 26, 21, 29
1 Alleluia! Give thanks to Yahweh for he is good, for ... Read More

Gospel, John 10:11-18
11 I am the good shepherd: the good shepherd lays ... Read More

Reading 2, First John 3:1-2
1 You must see what great love the Father has ... Read More

Saint of the Day

Saint of the Day for April 26th, 2015 Image

St. Cletus
April 26: St. Cletus was the third bishop of Rome, and succeeded St. ... Read More

Inform, Inspire & Ignite Logo

Find Catholic Online on Facebook and get updates right in your live feed.

Become a fan of Catholic Online on Facebook


Follow Catholic Online on Twitter and get News and Product updates.

Follow us on Twitter