Stop fighting, Kerry urges
Egyptians need to come together, secretary of state says in Cairo
CAIRO — Egypt’s bickering government and opposition need to create “a sense of political and economic viability,” giving businesses confidence and setting the stage for a vital international aid deal, U.S. Secretary of State John Kerry said Saturday.
Kerry stressed to business leaders the importance of Egyptians coming together around human rights, freedom and speech and religious tolerance.
Hearrived in Cairo, the latest stop on his first overseas trip as a member of President Barack Obama’s second-term Cabinet, intending to press all sides to come to a basic agreement on Egypt’s direction ahead of parliamentary elections that begin next month.
Obtaining a loan
Of great concern is the ability of Egypt to undertake the reforms necessary to qualify for a $4.8 billion International Monetary Fund loan package. Steps could include increasing tax collections and curbing energy subsidies.
Agreement with the IMF, contingent on ending the political chaos that has ensued since President Mohammed Morsi’s election, would unlock significant U.S. assistance, including portions of Obama’s $1 billion pledge last April.
“It is paramount, essential, urgent,” Kerry told business leaders, “that the Egyptian economy gets stronger, gets back on its feet and it’s very clear that there is a circle of connections in how that can happen.”
Meeting with Morsi
Kerry, who was to meet with Morsi on Sunday, said he would tell the president that that U.S. assistance would depend on Egyptian reforms and the IMF agreement.
Several hundred people protested outside the government offices where Kerry planned to meet with Foreign Minister Mohammed Amr Kamel. They burned Kerry’s pictures.
The turmoil has scared away tourists and foreign investors, eroding Egypt’s foreign reserves by nearly two-thirds. Those reserves are needed to pay for subsidies that millions of Egyptians rely on for survival.