Adjustment in Egypt? The political economy of reform

Abstract

This article examines the nature of structural adjustment in Egypt. It situates the policies of the International Financial Institutions within the context of Egypt's economic and political crisis and the efficacy of their policies of liberalisation in agriculture and for economic growth. The IFIs are promoting policies for rolling back the state but they are not addressing issues of ‘good governance’ and democratisation. It is tempting to conclude that the current international strategy for economic reform is a repeat of the failed policies twenty years ago of Anwar Sadat's infitah .