Skip to content
Catholic Online Logo

By Catholic Online (NEWS CONSORTIUM)

5/6/2013 (2 years 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 (2 years 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 June 2015
Universal:
That immigrants and refugees may find welcome and respect in the countries to which they come.
Evangelization: That the personal encounter with Jesus may arouse in many young people the desire to offer their own lives in priesthood or consecrated life.


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


Comments


More Africa

The Tunisian beach hotel massacre: Was the killer involved with ISIS? Watch

Image of

By Talia Ramos (NEWS CONSORTIUM)

Last Friday, a very tragic event happened at the Imperial Marhaba Beach Hotel in Sousse, Tunisia. A 23-year-old man dressed just like any other tourist, passed by the hotel, and shot foreigners with a Kalashnikov rifle, he had hidden under his umbrella. Thirty-nine ... continue reading


Italian priests exorcise Nigerian migrant girls forced into prostitution compelled by voodoo spell Watch

Image of

By Talia Ramos (NEWS CONSORTIUM)

Italian authorities have given the Catholic priests permission to "exorcise," or do counter-magic to Nigerian migrant girls who have been "under a voodoo spell to work as prostitutes." There are around 25,000 women from Nigeria who have been brought to Italy by ... continue reading


Boko Haram kidnapped Chibok schoolgirls believed to be brainwashed and now fighting for their captors Watch

Image of Over 200 Chibok schoolgirls remain missing more than a year later.

By Linky C. (NEWS CONSORTIUM)

Two hundred and nineteen girls kidnapped by Boko Haram, from the boarding school in Chibok, Nigeria, are believed to have been brainwashed and now working for the Boko Haram, as reported by Amnesty International. The girls who were taken from their school grounds, a ... continue reading


Terrorist slaughters 37 on Tunisian beach resort of Sousse Watch

Image of Witnesses say the gunman started firing from the beach before moving onto the Imperial Hotel's swimming pool.

By Catholic Online (NEWS CONSORTIUM)

Thirty-seven people have been killed - and at least another 36 were injured in a terrorist shooting spree in the beachside town of Sousse in Tunisia. At least five people from the United Kingdom are listed as among the dead. The believed gunman in the massacre, ... continue reading


Ugandan witch doctors abducting, killing children for body parts Watch

Image of

By Catholic Online (NEWS CONSORTIUM)

It's a satanic practice once thought consigned to a very, very dark age - but it is increasing in frequency throughout the African nation of Uganda. "Witch doctors" are abducting and killing schoolchildren to use their body parts in malefic rituals. It is ... continue reading


Somali men demoralized, turn to drugs after more women become breadwinners Watch

Image of Many Somali men, usurped from the traditional role of breadwinner in many households, have turned to divorce and substance abuse.

By Katy Migiro, Thomson Reuters Foundation

Men in war-torn Somalia suffer high rates of drug addiction, divorce and mental illness, researchers said, urging donors to do more to support men and strengthen families. NAIROBI (Thomson Reuters Foundation) - In Somali culture, men are expected to provide all ... continue reading


Tour guide risks life attempting to save American tourist horrifically killed by lion Watch

Image of

By Atarah Haely (NEWS CONSORTIUM)

As Katherine Chappell, the American tourist attacked and killed by a lion during an African safari tour, was being attacked, the staff of the park hesitated to treat Chappell and the ambulance took a long time to arrive, according to Pierre Potgieter, the tour guide. ... continue reading


Obianuju Ekeocha: The case against Abortion, An Appeal for Mercy from a Nigerian Woman Watch

Image of Abortion is not for us or our children - for it is a violent solution sanitized within the wounded heart of the western world and we just cannot accept it now or ever. - Uju

By Obianuju Ekeocha

In the last few years, we have woken up to the indescribable horror and terror of Boko Haram. And every one of us will agree that their actions and operations are merciless, viscous and violent beyond words. And so we pray for an end to the death and destruction ... continue reading


African governments swindled from tax dollars they need for development Watch

Image of Tax reform would go a long way towards funding new commitments to improve schooling and healthcare in Africa.

By Stella Dawson, Thomson Reuters Foundation

Multinational companies deprive African governments of $11 billion in taxes each year, and G7 world leaders should set up a new global body to regulate corporate taxation, Oxfam International said on Monday. WASHINGTON (Thomson Reuters Foundation) - By shifting ... continue reading


American tourist attacked and killed by lion during African Safari Park tour Watch

Image of A lion [not pictured] attacked a tourist during the safari tour.

By Nikky Andres (NEWS CONSORTIUM)

When one 22 year old tourist from the United States planned her trip to South Africa, being mauled and attacked by a big angry cat was definitely not part of her itinerary. Unfortunately for this young woman, it turned out this trip would be her last.  MUNTINLUPA, ... 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, Ezekiel 2:2-5
2 As he said these words the spirit came into me and ... Read More

Psalm, Psalms 123:1-2, 2, 3-4
1 [Song of Ascents] I lift up my eyes to you who are ... Read More

Gospel, Mark 6:1-6
1 Leaving that district, he went to his home town, ... Read More

Reading 2, Second Corinthians 12:7-10
7 Wherefore, so that I should not get above myself, I ... Read More

Saint of the Day

Saint of the Day for July 5th, 2015 Image

St. Anthony Mary Zaccaria
July 5: Cofounder of the Barnabites. Born in 1502 in Cremona, Italy, ... 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