DOSSIER
They feel threaten by the populist approach of the Ihwan in North Africa and in the Middle East, and accused the Egyptian president “to pose a danger to the GCC states politically and accused Mursi of being close to Iran” (Dubai police chief Dahi Khalfan).
For this reason Saudi Arabia and the UAE, the major allies of the US in the region, offered Egypt assistance for $8 billion, $1 billion in grants and another $2 billion in lending, even interest free (of course…).
In addition, the Saudis offered oil and gas for $2 billion, not peanuts. Saudis, as well as Americans, can also use their influence to push the IMF to finally deliver a much-sought $4.8 billion loan for Egypt, that Morsi negotiated but never obtained.
With only USD 14,9 billion in reserves, equal to 3 months survival, Egypt badly need this money to cover an import bill of more than 58 billions.
Kuwait, which is no doubt relieved to see the end of the Brotherhood government for its ties with Iraq, announced a major aid package to Egypt on July 10 totaling USD 4 billion.
Unsurprisingly also Qatar, which was considered an ally of the Brotherhood in North Africa and had extended approximately 8 billion in grants and loans as part of a USD 18 billion financial assistance program to Morsi, issued a press statement the day after the ousting of the legitimate President “praising the Egyptian army’s role in safeguarding Egypt’s national security….respected the will of the Egyptian people.”
The statement also said that Qatar will continue to support Egypt, and is expected to offer Egypt another aid package.
