Egypt opposition wary of US financial overtures

(Deutsche Welle) As Egypt heads toward economic crisis, Washington has begun releasing long-stalled financial aid. But members of the secular opposition are concerned that the US may be getting too cozy with the Islamist incumbents.

US Secretary of State John Kerry announced last weekend that Washington would disburse some $190 million (145 million euros) to help Egypt close its gaping budget deficit, raising concern among secular and liberal opposition groups that the Obama administration is cultivating closer ties with Islamist President Mohammed Morsi.

Kerry also pledged another $60 million to help set up a joint Egyptian-American Enterprise Fund to support small businesses. The total $250 million in aid money would be the first installment of a one-billion-dollar package pledged by US President Barack Obama to Egypt in May 2011.

Up until now, the disbursement of that money has been delayed due to concerns in Washington about Egypt’s volatile transition to a more democratic system. Members of Congress in particular have been worried about Morsi’s commitment to peace with Israel, Egyptian security forces raiding NGOs, and anti-American protests at the US embassy in Cairo last September.

“[The US] wanted to make sure power is transferred meaningfully from the military to an elected president,” Yasser El-Shimy, an analyst with the International Crisis Group in Cairo, told DW. “Now that Egypt has a president, a constitution and parliamentary elections, the US feels much more comfortable giving that money.”

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