Monday, October 31, 2011

Mubarak's debt

"There has been some commentary after Mubarak’s ouster on whether Egyptians should be required to pay back this debt. Repayment of these exorbitant amounts would prolong the poverty and hardship Egyptians have endured for decades. They clearly did not benefit from loan proceeds that disappeared into the pockets of Egypt’s political and business elite or from amounts used for instruments of repression that helped keep the dictatorial regime in power."