| It must be utterly humiliating for the leader of the Muslim Brotherhood triumphant to go from country to country, hat in hand, begging for a bit of grain or oil or money to keep his people from starvation and riot, as if he hadn't the mark of Allah's favour pounded into his forehead, as if he were no more beloved of Allah than the meanest kaffir cleaning his outhouses. |
Egyptian President Mohamed Morsi will visit Russia next week, a state-run newspaper reported on Friday, in a visit market sources expect to focus on the cash-strapped Arab state's energy, wheat import and financing needs.
Morsi will meet President Vladimir Putin
...Second President of the Russian Federation and the first to remain sober. Because of constitutionally mandated term limits he is the current Prime Minister of Russia. His sock puppet, Dmitry Medvedev, was installed in the 2008 presidential elections. Putin is credited with bringing political stability and re-establishing something like the rule of law. During his eight years in office Russia's economy bounced back from crisis, seeing GDP increase, poverty decrease and average monthly salaries increase. During his presidency Putin passed into law a series of fundamental reforms, including a flat income tax of 13%, a reduced profits tax, and new land and legal codes. Under Putin, a new group of business magnates controlling significant swathes of Russia's economy has emerged, all of whom have close personal ties to Putin. The old bunch, without close personal ties to Putin, are in jail or in exile...for talks that would explore "ways to strengthen cooperation between the two countries in all fields", Al Gomhuria reported, citing an anonymous source.
| And the world waits with bated breath to see if Russia will fall into old Soviet habits. No wait -- it doesn't. But the readers of Al Ahram, tuned as they are to the wider world beyond the desert sands, not to mention able to read in both Arabic and English, are no doubt praying hard, each in his or her own way, that that President Morsi gets what the country needs instead of what his party deserves. |
| "Awful what's going on in Syria, President Putin." "Yes, awful indeed, President Morsi. Ah well, at least they're killing each other, and not bothering the rest of us. Tea?" |
Egypt is grappling with an economic crisis caused by more than two years of political instability.
| ...preceded by two generations or so of skimming by the rulers of the country, their friends and relations, and senior members or the army... |
Shortages of imported fuel are disrupting transport and causing power cuts in the country of 84 million. The situation is expected to worsen as summer approaches and Egyptians switch on their air conditioning.
The world's biggest importer of wheat, Egypt has cut back on international purchases this year in the hope of a bumper local harvest.
| How that is to be obtained without fertilizers or running tractors is beyond my meager ability to imagine, but no doubt copious prayers to Allah by particularly pious men has something to do with it. |
The government is also in talks with the International Monetary Fund on a $4.8 billion loan deal that would unlock billions more in international support.
WHEAT STOCKS
Several sources on European commodities and energy markets told Rooters the Egyptians may discuss financing needs and oil and wheat supplies during their visit to Russia.
"Talk is that an Egyptian delegation to Russia has both oil and gas as a focus," said one European trader. "Imports by Egypt with delayed payment seem to be on the wish-list."
Egypt's wheat stocks are likely to plunge below 1 million tonnes by June 30 as its economic crisis cripples purchases from the international market, a U.S. Department of Agriculture report said.
A second Moscow-based source said that Egypt also planned to discuss a possible $2 billion loan from Russia.
Russia, which is a net creditor, has been sought out by countries in financial difficulty that are seeking easier terms than those offered by the IMF - with recent examples including Cyprus and Serbia.
Egypt is likely to discuss wheat supplies from the next crop, as Russia has already run down the exportable surplus from last year's poor harvest.
Currently there is no clarity on the wheat supply volume, timing or payment method, the sources added.
Russian Agriculture Minister Nikolai Fyodorov met with Essam Haddad, an assistant to the Egyptian president for foreign relations on Thursday, but wheat supplies were not discussed, his ministry said.
Russia's new crop is likely to arrive in June or July, its 2013 grain harvest is officially expected at 90-92 million tonnes with an exportable surplus of around 20 million tonnes.
As I recall, in recent years Russia has had no surplus to export, which is why poor Egyptians were losing the competition with Chinese pigs for sustenance. If there really are surpluses -- and if Russia has one, surely other countries will as well -- total catastrophe in Egypt may yet be avoided.