The International Monetary Fund, which has been in business since 1945, when it was formed to help the defeated Axis countries and some others to keep their currencies lined up with the dollar but has more recently been in the business of offering bailouts, is now considering loaning $4.8 billion to Egypt’s new government. Why? Because, as the fund puts it, the loan would be ” a reflection of the IMF’s continuous commitment to support Egypt and its people during this historic period of transition.”
Fitch Ratings, in a characteristically amoral statement, said that the decisions of Egypt’s president, Muslim Brotherhood’s Mohammed Morsi, to dismiss Egypt’s two top generals and reserve legislative and executive power for himself, were “potentially positive developments.” The stalled negotiations between the IMF and Morsi had been “symptomatic of the impact of political uncertainty on policymaking.”
So now the Muslim Brotherhood, whose Egyptian followers are reportedly literally crucifying religious and political opponents, is deserving of international largesse because the country will be more stable? Shades of Hitler; unify the country by slaughtering those would oppose you. Surely the IMF would have supported his policies as well if they had been in existence.
In 2009, Barack Obama proposed a $100 billion loan to the IMF that the Nancy Pelosi-led House shoved through, despite huge Republican opposition in the House. Given Obama’s proclivities in the Middle East, it’s easy to understand why he supported the IMF so strongly.
At what point will the U.S. stop funding an organization that nurtures those who hate everything we stand for?