hussain0216
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That tiny nuclear armed state is an outpost of the US (undisputed superpower)
If thats the case then why not take action against the U.S like not spend hundreds of billions buying their weapons
If arabs act like beaten dogs even when slapped in the face then people wont respect them even if the beaten dog weara a gold collar
It wasn't to help finance Cairo's Dassault Rafale fighter purchase, as the rest of the article you're quoting clearly proves. It was exactly for the reasons I stated in my first post.
There you go. Financing the rest outside the loan are through periodic payments based on Egypt's military purchasing finances and not the money that Saudiya and the UAE provided which was to pump up the central bank's funds which were at a disastrous low, and was also collateral to the $2 billion IMF loan Egypt was seeking at the time and was granted.
There you go. If the Saudi & UAE money was used in any way, it was simply money in the bank to show collateral and that's it. And collateral to mainly the IMF loan and secondary to other investments and procurement.
Yep, Coface is pretty much the monetary institution that is financing the Egyptian Rafale deal(s).
And this was 2014-15. Current budget deficit stands at 4.4%. A far cry from 17.7% wouldn't you say?
And GDP growth is currently at 5.4% slated to reach 7% by 2019.
They must've worked wonders since the deficit is much lower than that predicted 12.5% and is actually at 4.4% like I mentioned. https://www.reuters.com/article/egy...half-fy-2017-18-down-to-4-4-pct-idUSC6N1M6009
So either way, I think it's pretty clear that the money from Saudiya, UAE and Kuwait was not use to purchase the Rafales. If they had any influence of some kind, it was strictly a collateral purpose but even that doesn't work very well in the case of arms purchases that include financing terms that extend into many years, since money in the bank can evaporate easily. What's more important is the economic status and it's future growth and sustainability that insures such contracts. If those weren't in a good place, none of these Rafales or other arms purchases would've happened simply based on available money in the bank.
Its the same thing
Whatever GCC gave those billions it allowed Egypt to divert funds on jet purchases