Obama offers Egypt $1 billion debt forgiveness, $1 billion loan guarantees; warns Gadhafi time is up…
By Chido Nwangwu, Publisher of USAfricaonline.com
USAfricaonline.com: U.S President Barack H. Obama has announced that his country is offering a $1 billion in debt forgiveness for Egypt and another $1 billion in loan guarantees as support to nurture and advance the democratic strivings in the north African country.
He said this a few minutes ago (today Thursday May 19, 2011) responding and setting the agenda of United States regarding reform in the Middle East and North Africa dealing with the unfolding issues and “transitions toward democracy.”
In a speech at the U.S. State Department in Washington DC laying out his policies toward the region, the president said he is marking “a new chapter in American diplomacy.”Obama spoke glowingly about the anti-dictatorial uprisings in Egypt, Tunisia, Libya where he asserted that “The events of the past six months show us that strategies of oppression and strategies of diversion will not work anymore.”
He mentioned the work of a Google executive from Egypt who was a champion through technologies of the successful fight against Hosni Mubarak.
He also singled out Libya’s tottering dictator Moammer Gadhafi when he (Obama) said that “time is working against Gadhafi,” and he will leave soon; and with such departure, “decades of provocation will come to an end.” As a policy move, Obama pointed to the establishment of “a comprehensive trade and investment partnership initiative in the Middle East and North Africa. If you take out oil exports, this region of over 400 million people exports roughly the same amount as Switzerland.”
Africa is a region of special attention for the Obama administration, as it was for former President George Bush’s administration. USAfrica multimedia networks and its editors are scheduled on May 20, 2011 to have an exclusive interview the U.S Assistant Secretary of State for Africa Ambassador Johnnie Carson.
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