Tags: UAE | Egypt

UAE Calls Sisi 'New Hope' For Egypt

Saturday, 31 May 2014 10:37 AM

The key Gulf nation of the United Arab Emirates sees the election of former army chief Abdel Fattah al-Sisi as Egypt's president as a "new hope" for the most populous Arab country.

The wealthy UAE is one of the main supporters of the government in Egypt and has showered it with aid since its military ousted elected Islamist president Mohammed Morsi last year.

"We all need to support Egypt as a nation and its people ... Egypt and its people are dear to us," said Minister of State for Foreign Affairs Anwar Gargash Gargash on Twitter, calling Sisi's election a "new hope" for Egypt.

Sisi won a landslide victory in a presidential election on Thursday. His country is suffering from corruption, high unemployment and a widening budget deficit.

UAE Foreign Minister Sheikh Abdullah bin Zayed said Saturday that his government foresees greater stability for Egypt under Sisi, adding that the UAE will continue to back Egypt financially.

He called for an international partnership to help repaid Egypt's shattered economy.

"We want to have partners from around the world involved, whether it be partners like Germany ... or institutions like the World Bank and the IMF," Sheikh Abdullah said at a news conference in Abu Dhabi on the occasion of a visit by German Foreign Minister Frank Walter Steinmeier. 

"Now there will be more stability," he added.

The Gulf Arab countries were opposed to Muosi and his Muslim Brotherhood, which they regard as a security threat. In total Saudi Arabia, Kuwait, and the UAE have pledged over $12 billion in loans and donations since July.

The International Monetary Fund and Egypt have discussed a possible loan worth up to $4.8 billion to help the economy, embattled since a 2011 uprising that toppled president Hosni Mubarak and drove away tourists and foreign investors, two main sources of foreign currency.

Those talks took a backseat when financial aid began flowing from Gulf Arab states following Mursi's ouster last year.

© 2017 Thomson/Reuters. All rights reserved.

   
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MiddleEast
The key Gulf nation of the United Arab Emirates sees the election of former army chief Abdel Fattah al-Sisi as Egypt's president as a "new hope" for the most populous Arab country.
UAE, Egypt
326
2014-37-31
Saturday, 31 May 2014 10:37 AM
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